May 15, 2006
For Immediate Release
LCP Investment Corporation
Nihon-bashi Nishikawa Bldg,
1-5-3 Nihon-bashi,Chuo-ku,Tokyo
Shunji Miyazaki: Executive Officer(Securities Code: 8980)

Inquiries:
The LCP REIT Advisors Co.,Ltd
CFOYuji Kubo

TEL: +81-3-3272-7311

Notice Concerning Revisions of Forecasts of Financial Results
for the Fiscal Periods Ending August 31,2006 and February 28,2007
The LCP Investment Corporation (hereinafter referred as the “Investment Corporation”) today
announced its revised forecasts of the financial results for the fiscal periods ending August 31, 2006
(the first fiscal period from September 20, 2005 through August 31, 2006) and February 28, 2007
(the second fiscal period from September 1, 2006 through February 28, 2007), which were reported
on May 2, 2006.

1, Reason for the Revisions of Forecasts of Financial Results
Investment Corporation has determined the issue price for the primary offering and the secondaryoffering on May 15, 2006. Due to this matter, Investment Corporation has decided to revise theforecast for the fiscal periods ending August 31, 2006 and February 28, 2007.

(1) The issue price of new investment units which is as prerequisite for the revisions by thedetermination of indicative pricing range:(2) The issue price of new investment units which is finally determined:

450,000 yen to 480,000 yen
460,000 yen

Note: This document is a public announcement regarding revisions of forecasts of financial results for the fiscal
periods ending August 31, 2006 and February 28,2007, and has not been prepared as an inducement or invitation toinvestment. We caution readers to refer to the Investment Corporation’s offering circular for the issue of new
investment units and secondary offering and the notices of amendments thereto, and to undertake investment decisionat their own examination and responsibility

2, Details of Revisions

Net Income

Distribution

perUnit
Previous Forecast ( May 2, 2006)(million yen)

Distribution in ExcessofEarnings per Unit

(yen)

The Fiscal period ending, August 31, 2006

338〜341

5,535 〜5,589―

The Fiscal period ending, February 28,748〜756

12,247〜12,389―

2007
Revised Forecast(million yen)(yen)

The Fiscal period ending, August 31, 2006

339

5,549

―

The Fiscal period ending, February 28,750

12,287―2007

Following the determination of the issue price identified in 1, (2), the Investment Corporation has reviseda part of “Precondition for Forecast of Performance for the Period Ending August 31, 2006 and the PeriodEnding February 28, 2007” announced as of May 2, 2006 as follows. Accordingly, net income anddistribution per unit are revised as shown above.

① Column of “Non-operating expenses”:
The estimated amount of non-operating expenses for the period ending August 31, 2006 (the firstperiod) and February 28, 2007 (the second period) are revised from a range of 218 million yen to 220
million yen to approximately 220 million yen and from a range of 171 million yen to 180 million yen
to approximately 178 million yen, respectively. For the period ending August 31, 2006 (the firstperiod), the estimated one-time expenses related to the listing and public offering of the investment
units is revised from a range of 118 million yen to 120 million yen to approximately 119 million yen.
The estimated interest expenses for the period ending August 31, 2006 (the first period) are revised
from a range of 91 million yen to 96 million yen to approximately 94 million yen. For the period
ending February 28, 2007 (the second period), the estimated interest expenses are revised from arange of 164 million yen to 173 million yen to approximately 170 million yen.

② Column of “Borrowing”
The scheduled borrowing amount from the qualified institutional investors is revised from a range of
21,068 million yen to 22,700 million yen to approximately 22,235 million yen.

Note: This document is a public announcement regarding revisions of forecasts of financial results for the fiscal
periods ending August 31, 2006 and February 28,2007, and has not been prepared as an inducement or invitation toinvestment. We caution readers to refer to the Investment Corporation’s offering circular for the issue of new
investment units and secondary offering and the notices of amendments thereto, and to undertake investment decisionat their own examination and responsibility

[Reference]
Expected number of investment units outstanding as of August 31, 2006: 61,100 units
Expected number of investment units outstanding as of February 28, 2007: 61,100 units[NOTE]
1. The forecasts and revised forecasts presented in this document are calculated as of today based on theassumptions as set forth in the above precondition. The actual net income and distribution per unit
may vary due to the acquisition and sale of properties, if any, changes in the real estate market andother factors affecting Investment Corporation. Investment Corporation does not guarantee the cash
distribution amount identified above.
2. Investment Corporation may further revise the forecasts if the Investment Corporation expects a large
variance from the above forecasts.
3.

In the Investment Corporation, the period ending August 2006 (the first period) will be from
September 20, 2005 to August 31, 2006 and the period ending February 2007 (the second period) willbe September 1, 2006 to February 28, 2007. Business terms thereafter will be from March 1 to August
31 and September 1 to February end in the following year in each year.

4.

The Investment Corporation plans to promptly acquire real estate (3 properties) and real estate trust
beneficiary rights (30 properties) on or after the expected payment date (May 22, 2006) for theinvestment units offered this time.

5.

The date of listing of the Investment Corporation is expected to be May 23, 2006.

6.

Amounts less than unit amount are rounded off.

＊ This document is being distributed today to Kabuto Club (the press club of the TSE) as well as to the press clubfor the Ministry of Land, Infrastructure and Transport Ministry and the press club for specialty construction
newspapers at the Ministry of Land, Infrastructure and Transport.
＊ 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.

Note: This document is a public announcement regarding revisions of forecasts of financial results for the fiscal
periods ending August 31, 2006 and February 28,2007, and has not been prepared as an inducement or invitation toinvestment. We caution readers to refer to the Investment Corporation’s offering circular for the issue of new
investment units and secondary offering and the notices of amendments thereto, and to undertake investment decisionat their own examination and responsibility