NEWS RELEASE

Japan Real Estate Investment Corporation
June 1, 2007

To whom it may concern:
Japan Real Estate Investment Corporation
Taketo Yamazaki, Executive Director(TSE code: 8952)
Contact: (Asset Management Contractor)
Japan Real Estate Asset Management Co., Ltd.
Kazuhiko Arahata, CEO & President
Haruhiko Araki, General Manager, Planning Department
Phone: +81-3-3211-7921

Notice concerning Issuance of Investment Corporation Bond
Announcement is hereby made that Japan Real Estate Investment Corporation (the “Corporation”)
decided to issue investment corporation bonds in accordance with the Act on Transfer of Bonds, etc.
(“Bonds Transfer Act”) at the board of directors’ meeting held on June 1, 2007.
1. Name of the Investment Corporation Bonds(1) Japan Real Estate Investment Corporation Fifth Unsecured Bond
(No finance-related special covenants, such as negative pledge)(hereinafter, “the Fifth Bond”)(2) Japan Real Estate Investment Corporation Sixth Unsecured Bond
(No finance-related special covenants, such as negative pledge)(hereinafter, “Sixth Bond,” and together with the Fifth Bond, “Investment CorporationBonds”)
Unless specified separately as to either the Fifth or Sixth Bond, the following items willapply to both bonds.
2. Application of Bonds Transfer Act
The Bonds Transfer Act is applicable to the Investment Corporation Bonds, thus Investment
Corporation Bonds certificates will not be issued.
3. Total amount of the bond issue
The Fifth Bond: 10 billion yen
The Sixth Bond: 15 billion yen
4. Payment amount
100 yen per face value of 100 yen
5. Redemption price
100 yen per face value of 100 yen
6. Yield on the bonds
The Fifth Bond: 1.67%
The Sixth Bond: 1.91%
7. Denomination of each bond
100 million yen
Disclaimer: This document is intended to serve as a press statement to make available the information on the issuance of Japan Real Estate
Investment Corporation Bond, and does not constitute and should not be construed as a solicitation to purchase this bond. Prospective
bondholders are advised to read the Corporation’s supplementary prospectus issued and registered for the investment corporation bond
before making their own investment decisions.

8. Subscription method
Public offering
9. Offering period
June 1, 2007
10. Payment due dateJune 18, 2007
11. Secured mortgage or guarantee
There is no secured mortgage or guarantee on the bonds. There are no assets reserved as
security for the bonds.
12. Redemption method and dates(1) Final redemption date
The Fifth Bond: June 18, 2012
The Sixth Bond: June 18, 2014
(2) Redemption by purchase may be accomplished anytime from the date following the payment
date unless otherwise specified by Japan Securities Depository Center, Inc.
13. Interest payment dates
June 18 and December 18 of every year
14. Finance-related special covenants
No finance-related special covenants are attached to the bonds.
15. Ratings
A+: Standard & Poor’s Ratings Services
A1: Moody’s Investors Service, Inc.
AA: Rating and Investment Information, Inc.
16. Transfer Center
Japan Securities Depository Center, Inc.
17. Fiscal agent/Issuing and payment agent
The Bank of Tokyo-Mitsubishi UFJ, Ltd.
18. Underwriters
The Fifth Bond: Mizuho Securities Co., Ltd.
Mitsubishi UFJ Securities Co., Ltd.
Shinko Securities Co., Ltd.
JP Morgan Securities Japan Co., Ltd.
The Sixth Bond: Mizuho Securities Co., Ltd.
19. Use of the fund
Scheduled future redemptions of the Investment Corporation Bonds

This notice is the English translation of the June 1, 2007, announcement in Japanese on our website.
However, no assurance or warranties are given for the completeness or accuracy of this English
translation.

Disclaimer: This document is intended to serve as a press statement to make available the information on the issuance of Japan Real Estate
Investment Corporation Bond, and does not constitute and should not be construed as a solicitation to purchase this bond. Prospective
bondholders are advised to read the Corporation’s supplementary prospectus issued and registered for the investment corporation bond
before making their own investment decisions.