<Provisional translation>

For Immediate Release

October 23, 2012

REIT Issuer
Hankyu REIT, Inc. (Securities Code: 8977)
19-19 Chaya-machi, Kita-ku, Osaka
Yoshiaki Shiraki, Executive Director
Asset Management Company
Hankyu REIT Asset Management, Inc.
Yoshiaki Shiraki, President & Representative Director
Contact:
Yoshihiro Nakano
General Manager, Corporate Planning Dept.
Email: hankyureit-ir@hankyu-rt.jp

Notice Concerning Debt Financing
Hankyu REIT, Inc. (hereafter “Hankyu REIT”) announces its decision made today to undertake debt financing as
described below.

1. Reason for Debt Financing
The funds will be allocated for the repayment of 1,500 million yen in borrowings that are due on October 31, 2012.
2. Details of Debt Financing (Scheduled)CategoryLenderAmount of debt
financing(millions of yen)Interest rate(Note)

Drawdowndate

Lending andrepayment
methods

Maturity date

Reference interest
The Bank ofLong-term
Tokyo-Mitsubishi
borrowing
UFJ, Ltd.

rate (JBA 3-month
1,500Japanese Yen
TIBOR) + 0.70%

October 31,
2012

Unsecured/
non-guaranteed
Lump-sum
repayment

October 31,
2017

Variable interest rate(Notes) • Interest payment dates are the last day of every January, April, July and October with the first payment date being January
31, 2013 (or the previous business day if the applicable date is a non-business day of the bank).
• The reference interest rate that will be adopted for the interest paid on the interest payment date shall be the JBA 3-month
Japanese Yen TIBOR two business days before the interest payment date directly preceding the relevant interest payment
date (or the execution date of the loan for the first interest payment date). (Effective October 22, 2012, the JBA 3-month
Japanese Yen TIBOR is 0.32833%)• The JBA 3-month Japanese Yen TIBOR can be referenced on the website of the Japanese Bankers Association (JBA):
http://www.zenginkyo.or.jp/en/tibor/• In the future, Hankyu REIT will not provide notification regarding the determination of interest rates related to the aforesaidborrowing. To check for changes to the applicable reference interest rate, please go to the website of JBA.

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3. Use of Funds
Capital for repayment of the following borrowings.
Category

LenderShort-termborrowing

The Bank ofTokyo-Mitsubishi
UFJ, Ltd.

Amount of debt
financing(millions of yen)

1,500

Drawdown
date

October 31,
2011

Lending andrepayment
methods
Unsecured/
non-guaranteed
Variable interestrate

4. Balance of Interest-bearing Liabilities After Execution of Debt Financing
Before execution ofAfter execution of
the debt financing
the debt financing(millions of yen)(millions of yen)

Maturity date

October 31,
2012

Change(millions of yen)

Short-term borrowings

7,500

6,000

-1,500Long-term borrowings (Note)

43,40044,900+1,500Total debt financing

50,90050,900±0Investment corporation bonds

6,000

6,000

±056,90056,900±0Total interest-bearing liabilities(Note) Long-term borrowings are loans with a repayment term (from drawdown date until the maturity date) exceeding one year.

5. Other Matters for the Appropriate Understanding and Judgment by Investors Concerning the Above Information
The risks associated with this debt financing, such as risks of repayment, have not changed in any material way fromthe “Investment Risks” stated in the most recent Securities Report (submitted on August 29, 2012).

•The Japanese original document was distributed to Kabuto Club (the press club of Tokyo Stock Exchange), Osaka Securities
Exchange, Ministry of Land, Infrastructure, Transport and Tourism, and to the press club of the construction trade newspaperof the Ministry of Land, Infrastructure, Transport and Tourism.

•Hankyu REIT website: http://www.hankyu-reit.jp/eng/

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