September 13, 2007

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: CEO and President
Inquiries:Yu ji Kubo
Director and Chief Financial Officer
TEL: +81-3-3272-7311
Notice con cerning Unith olde r Status as of the En d of the 3rd Period (period that ende d August 31, 2007)

Today, LCP Invest ment Co rporat ion (“the Inv est ment Co rpo rat ion”) received , fro m th e agent o f th eunitho lders’ list, et c., The Chuo M itsu i Trust and Ban king Co mpany, Limited , a list o f th e large un itho lders(the top 20 (t wenty ) un itho lders) as o f August 31, 2007, and we hereby report th at th e top th ree un itho lders
shown on such list held an agg regate nu mber of un its th at exceed ed 50% (actually, 51.07%, wh ich is th emathemat ical total o f the o wnership rat io rep resented by the un its respect iv ely held by each o f the top 3unitho lders) o f all un its o f the Inv est ment Co rporat ion ’s outstand ing inv est ment un its. A lso, as 2 (t wo )co mpan ies fro m among the top 3 (th ree) co mpan ies held the Inv est ment Co rporat ion ’s invest ment un its
through co llateral accounts o r t rust accounts, it is thought that such co mpan ies are ho ld ing such un its onbehalf o f substant ial investo rs.
The un itho ld ing status of the top th ree un itho lders o f th e Invest ment Co rporat ion ’s inv est ment un its,
based on large un itho ld ing repo rts sub mitted up to tod ay (not includ ing chang es mad e on o r since
September 1, 2007), is as shown in the tab le belo w.
Unitholding statu s o f th e top three unithold ers, ba sed on larg e unitholding repo rts
Name o f Investo rs

Sub miss ion Date

New M ission Fund ing Corpo rat ion

April 4, 2007

Nikko Asset Man agement Co., Ltd .
Nikko Cit igroup Limited

April 19, 2007Nikko Global Wrap Ltd .
Subtotal
Prospect Asset Managemen t, Inc.
Total

May 8, 2007

Nu mber o f Un its Held

Rat io o f Un its Held

32,500 un its

35.40％

5,485

5.97％

316

0.34％

177

0.19％

5,978 un its

6.51％

5,730 un its

6.24％

44,208 un its

48.15％(NB) All listed figures are bas ed on large unitholding reports or amendments to s uch reports. A lso, N ikko Ass et
M anagement Co., Ltd., Nikko Citigroup Limited and N ikko G lobal Wrap Ltd. are joint holders.
Large unitholding reports must be submitted w ithin five (5) bus iness days from when the holding ratio of shares,etc., as defined under the Securities and Exchange Law of J apan, surpasses 5%, and amendments to s uch reports
must be submitted w ithin five (5) bus iness days from when the holding rat io of shares, etc. increases or decreas es
by 1% or more.

Under the taxat ion law o f Japan , acco rd ing to special exempt ion p rov is ions concern ing the taxat ion o f
invest ment corpo rat ions , it is p ermitt ed that invest ment co rpo rat ions sat isfy ing certain requ irements(condu it requ irements, “doukansei youken”) can in clude the amount correspond ing to th e d ist ribut ion o f
pro fit among th e monet ary d ist ribut ion in the expenses o f the invest ment co rpo rat ion , in o rder to avo id dual
taxat ion o f the inv est ment co rpo rat ion and the inv estors. One such condu it requ irement is that , at the end o fthe business years, the inv est ment co rporat ion must not fall under the catego ry of an affiliat ed co mpany(“dou zoku gaisha”) (i.e., mo re than 50% o f the total outstand ing invest ment un its are not held by th ree o r
fewer investo rs o r by special associates thereo f). Accordingly, in the event that the ratio of units held by theInvestment Corporation’s top three unitholders exceeded 50% as of the end of the 3rd period (period that ended
August 31, 2007), the Investment Co rporation would not satisfy the said requirements, and the monetary
distribution would decrease by an amount corresponding to the taxation burden. (The Investment Corporation’slegal effective rate of taxation for the 2nd period was 39.39%.)
The Investment Corporation believes, in consideration of the abovementioned large unitholding reports
submission status, that among the top 3 (three) unitholders shown in the list of large unitholders, the substantialunitholders holding our investment units through collateral accounts or trust accounts are in fact holding ourinvestment units for multip le substantial investors, and at present, in addition to investigating those substantialinvestors, based on discussions with our tax advisers, we are confirming the applicability of the abovementioned
conduit requirements.
We shall make p ro mpt d isclosu re of any new facts th at co me to light concern ing th is matt er.
Also, at the p resent t ime, there is no change to ou r fo recast d istribut ion per un it (12,800 yen ) fo r the 3rd
period (period th at ended August 31, 2007) that was announ ced on May 18, 2007.

* This document is being distributed today to the Kabuto Club (the press club of the TSE) as well as to the press club for theM inistry of Land, Infrastructure and Transport and to the press club for specialty construction newspapers at the M inistry 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 and was prepared solely for the convenience ofand reference by overseas investors. LCP Investment Corporation makes no warranties as to its accuracy or completeness.