For Translation Purposes Only
November 26, 2008

For Immediate Release
LCP Investment Corporation
Nihon-bashi Nishikawa Bldg.
1-5-3 Nihon-bashi, Chuo-ku, Tokyo
Masayoshi Takahashi: Executive Officer(Securities Code: 8980)
The LCP REIT Advisors Co., Ltd.
Shunji Miyazaki: President and CEO
Inquiries:
Yuji Kubo
Director and CFO
TEL: +81-3-3272-7311

Notice concerning Change of Master Lease and Property Management Companies
The LCP Investment Corporation (the “Investment Corporation”) today announced its decision to change master
lease companies (“ML company”) and property management companies (“PM company”) of the properties ownedby the Investment Corporation on December 1, 2008.
1. Outlines of Change
On December 1, 2008, ML and PM companies of the three properties out of 44 properties owned by theInvestment Corporation will be changed as stated below.
Use

Property No.

Property Name

Before the Change

Residential

R-17

Royal Park Omachi

Suncity Co.,Ltd.

House Mate Partners Co., Ltd.

Suncity Co.,Ltd.

(For the company’s profile, pleaserefer to the following page.)

Residential

OthersR-18

Lexington Square
Haginomachi

T-1

Lexington Plaza
HachimanSuncity Co.,Ltd.

After the ChangeTOKYO BISO KOGYOCORPORATION(For the company’s profile, pleaserefer to the following page.)（Note）In relation to the above change, the approval of the lender will be required to change of the trust agreement. The approval ofthe lender has not been obtained as of today but is scheduled to be obtained by December 1, 2008, the date of the change.

2．Rationale for Change
The Investment Corporation will change the ML and PM companies to develop and maintain the asset value of theaforementioned properties by following its fundamental policy which aims at steady growth of the investmentassets through mid-and-long term outlook.
3．Transaction with Stakeholders
As of today, the new ML and PM companies do not fall under the category of a sponsor-related party (*)
under the self-regulation set by the asset management company, which is a measure to avoid conflicts of interest
concerning asset management of the Investment Corporation.
(*) A sponsor-related party means: (a) a party or person who falls under the category of Related Parties, etc. defined by the Law concerning
Investment Trusts and Investment Corporations, (b) all shareholders of the asset management company, and (c) special purpose companies
which entrust its asset management to a party or a person falling under the category of (b) above, invest in or makes silent partnershipcontributions in.

* This document is being distributed today to the Kabuto Club (the press club of the TSE) as well as to the press club for theMinistry of Land, Infrastructure and Transport and to the press club for specialty construction newspapers at the Ministry ofLand, Infrastructure and Transport.
* Website of the Investment Corporation: http://www.lcp-reit.co.jp* This English language notice is a translation of the Japanese language notice issued on the same day and was prepared solely
for the convenience of and reference by, overseas investors. LCP Investment Corporation makes no warranties as to its
accuracy or completeness.

Exhibit[Company Profile]
Company name
Address
Representative
CapitalMain business

Relationship with the Investment
Corporation or the asset
management company

Company name
Address
Representative
CapitalMain business
Relationship with the Investment
Corporation or the AssetManagement Company

House Mate Partners Co., Ltd.
41st floor, Sunshine 60, 3-1-1, Higashi Ikebukuro, Toshima-ku, Tokyo
President and CEO Miyoshi Ezure
460 million yen
1. Sub-lease and operation of rental properties
2. Management and maintenance of rental properties, building repair
and brokerage
3. Asset consulting of land and buildings
4. Brokerage of apartments, condominiums, offices and parking lots
5. Alternate management of whole building leasing
6. Non-life insurance representative
7. Other services
Not applicableTOKYO BISO KOGYO CORPORATION
10th floor, Shinjuku Island Tower, 6-5-1, Nishi-shinjuku, Shinjuku-ku,
Tokyo
President and CEO Hidenori Yagi
4 billion and 499.67 million yen
Comprehensive building maintenanceNot applicable