FINANCIAL REPORT FOR THE FISCAL PERIOD ENDED AUGUST 31, 2006
(From September 20, 2005 to August 31, 2006)
October 23, 2006
Name of Issuer of Real Estate Investment Trust:LCP Investment Corporation

Stock Exchange Listed:Tokyo Stock Exchange

Code Number:

8980

URL:

http://www.lcp-reit.co.jp

Location of Head Office:Tokyo

Inquiries to:(Asset Management Company)
LCP REIT Advisors Co.,Ltd
Responsible Person: Yuji Kubo
Title: Director, Financial Department
TEL: +81-3-3272-7311

Date of Board Meeting for Settlement of Accounts:

October 23,2006

Commencement Date of Payment of Dividends:

November 22,2006 ( Scheduled)

1, Performance for the Fiscal Period Ended August 31, 2006
(September 20,2005 through August 31,2006)（Note: Amounts less than one million yen have been omitted）(1) Operating Results(Million Yen)

Operating Revenue
Fiscal Period Ended

944

Operating Income−%

Ordinary Income−%

541−%

344

Net Income

342−%

August 31,2006(Yen)
Net Income

Return on<Reference>

Ordinary<Reference>

Ordinary Income toper Unit

Unit holders’(Annualized)

Income(Annualized)

Operating Revenues(2.5%)

36.5%

Equity (ROE)
Fiscal Period Ended¥19,562

1.3%

to Total Assets(4.7%)

0.7%

August 31,2006(Notes)1.

The fiscal period is from September 20, 2005 through August 31, 2006, a period of 346 days. The effective fiscal
period is from May 23,2006, the date on which actual asset management commenced, through August 31,2006,aperiod of 101 days.

2.

Net income per unit is calculated utilizing the average number of investment units for the period. The average
number of investment units for the fiscal period was 17,522 units. Utilizing the effective fiscal period
commencing May 23, 2006, the weighted-average number of investment units was 59,300 units, with net income
per unit ¥ 5,780.

The information above is translated from the first page of the Japanese “Kessan Tanshin” report, dated October 23,2006.
LCP Investment Corporation makes no assurance or warranty with respect to the completeness or accuracy of this English
translation. To guarantee complete and accurate information, please refer to the original report in Japanese3.

Changes in accounting policies : None

4.

This is the LCP Investment Corporation’s first fiscal period. Accordingly, percentage changes for operating
revenue, operating income, ordinary income and net income compared with previous fiscal period have not beenprovided.

5.

Annualized percentage figures for the fiscal period = Percentage figures for the fiscal period/Actual number ofasset management days (101 days) × 365 days

6.

Return on unit holders’ equity and ordinary income on total assets are calculated utilizing the average of thefiscal period beginning balances and ending balances for unit holders’ equity and total assets. For the fiscal
period, figures are calculated utilizing the beginning balances as of the effective fiscal period.

（Total Distribution: Amounts less than one million yen have been omitted）(2)Distributions

Fiscal Period Ended

Distribution

Total

Distribution in

Total Distributions

PayoutDistribution Ratio

Per Unit

Distributions

Excess ofIn Excess ofRatio

to Unit holders’(Yen)(million yen)

Earnings per unit (Yen)

Earnings

342−¥5,780Equity−

99.9

1.3%

%

August 31,2006
Note: The payout ratio is rounded down to the first decimal place.

(3)

Financial Position(Million yen, unless otherwise stated)

Total Assets

Fiscal Period Ended

Total Unit holders’Unit holders’ Equity toUnit holders’ Equity perEquity

Total Assets

Investment Unit (Yen)

51,05526,54752.0%¥447,675

August 31,2006
Note: The number of investment units outstanding as of August 31, 2006 totaled 59,300 units.

2, Forecast of Results for the Next Fiscal Period (September 1, 2006 through February 28, 2006)(Million yen, unless otherwise stated)

Fiscal Period Ended

Operating

Ordinary

Revenues

Income
1,797

Net Income733732

Distribution

Distribution in Excess ofper Unit (Yen)

Earning per Unit (Yen)¥12,359

February 28,2007(Reference) Estimated net income per unit for the next fiscal period ending February 28, 2007: ¥12,359
Note: Forecasts presented in this document are based on certain assumptions. Forecasts for net income, distribution
per unit and other financial indicators may differ significantly from actual results due to additional acquisition andselling of properties, changes in real estate market, changes in operating conditions, and a variety of factors
surrounding LCP Investment Corporation. Accordingly, the LCP Investment Corporation does not guarantee actual
results and the payment of the forecast distribution amount.

The information above is translated from the first page of the Japanese “Kessan Tanshin” report, dated October 23,2006.
LCP Investment Corporation makes no assurance or warranty with respect to the completeness or accuracy of this English
translation. To guarantee complete and accurate information, please refer to the original report in Japanese¥−