<For translation purposes only>

For Immediate Release

October 25, 2011
REIT Issuer
Hankyu REIT, Inc. (Securities Code: 8977)
19-19 Chaya-machi, Kita-ku, Osaka
Shuichiro Takahashi, Executive Director
Asset Management Company
Hankyu REIT Asset Management, Inc.
Shuichiro Takahashi, President & Representative
Director
Contact:
Kiyoyuki Takahashi
General Manager, Corporate Planning Dept.
Email: hankyureit-ir@hankyu-rt.jp

Notice Concerning Debt Financing

Hankyu REIT, Inc. (hereafter “Hankyu REIT”) announces today its decision for debt financing as described below.
1. Reason for the Debt Financing
These funds will be allocated towards the repayment of 1,500 million yen in borrowing, which becomes due on October
31, 2011.
2. Details of the Debt Financing (Anticipated)

Category

LenderAmount of debt
financing(millions of yen)Interest rate(Note)

Execution
date of loan

Lending
method,repayment
methodRepayment
term

Reference interest
rate (JBA 6-month

The Bank of
Short-term
Tokyo-Mitsubishi
borrowing
UFJ, Ltd.

1,500

Japanese YenTIBOR) + 0.70%

October 31,2011Unsecured/
non-guaranteed
Bulletrepayment

October 31,
2012

Variable interest(Notes) • Interest payment dates are April 27, 2012 and October 31, 2012.
• The reference interest rate that will be adopted for the interest paid on the interest payment date shall be the JBA 6-month
Japanese Yen TIBOR of the day two business days before the interest payment date directly preceding the relevant interest
payment date (or the execution date of loan if it is the first interest payment date). (Effective October 24, 2011, the JBA
6-month Japanese Yen TIBOR is 0.44071%.)• The JBA 6-month Japanese Yen TIBOR can be referenced at the Japanese Bankers Association’s website:
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 Japanese Bankers Association’s
website.

3. Use of Funds
Capital for repayment of borrowing below
Category

LenderShort-termborrowing

The Bank ofTokyo-Mitsubishi
UFJ, Ltd.

Amount of debt
financing(millions of yen)

Execution
date of loan

1,500

October 29,
2010

Lending method,
repayment
methodUnsecured/
non-guaranteed
Bullet repayment

1Repayment
term

October 31,2011

4. Balance of Interest-bearing Debt After This Debt Financing
Before execution of this loan
(millions of yen)

After execution of this loan
(millions of yen)

Variation(millions of yen)

Short-term borrowing

10,10010,100±0Long-term debt (Note)

47,40047,400±0

Total interest-bearing
debt

57,50057,500±0(Note) Long-term debts are loans with a repayment term (from loan execution date until the due date) that exceeds one year.

5. Other matters pertinent to the appropriate understanding and judgments of 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 26, 2011).

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

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

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