April 27, 2010
To All Concerned Parties
Name of REIT Issuer:
Invincible Investment Corporation
Naoki Shibatsuji, Executive Director
Nihon-bashi Nishikawa Bldg.
1-5-3 Nihon-bashi, Chuo-ku, Tokyo, Japan(Securities code: 8963)
URL: http: //www.invincible-inv.co.jp/eng/
Asset manager:
Consonant Investment Management Co., Ltd.
Naoki Shibatsuji, CEOContact: Yuji Kubo, CFO(Tel. +81-3-3272-7311)

Notice concerning Debt Financing (Determination of Interest Rate)
Invincible Investment Corporation (INV) has today announced that the applicable interest rates forthe following “term loan (Shinsei Trust & Banking Co., Ltd.)” disclosed in the press release titled“Notice concerning Change of Terms of Existing Borrowings” dated March 26, 2010 and “Term loan”,“24 individual credit loan”, “25 individual credit loan” and “term loan (D)” disclosed in the press
release titled “Notice concerning Change of Terms of Existing Borrowings“ dated March 30, 2010.
Details are as follows.

1. Term loan
Outstandingof Borrowing(mn JPY)

Debtor bank

Borrowingdate

Maturity dateAozora Bank, Ltd.
11,462 (Note) Nov. 24, 2009
Jun. 30, 2010
Tokio Marine & Nichido Fire Insurance Co., Ltd.
Resona Bank, Limited.
Interest rate
THE NISHI-NIPPON CITY BANK, LTD.
The Musashino Bank, Ltd.
Shinsei Bank, Limited
2.73385 % (May 1, 2010 to May 31, 2010)
The Chuo Mitsui Trust and Banking Company,
Limited(Note) As disclosed in the press release titled “Notice concerning Change of Terms of Existing Borrowings”
dated March 30, 2010, part of borrowing is scheduled to be repaid as of April 30, 2010. Furthermore,
the repayments of partial borrowings as of April 30, 2010 and May 31, 2010 will be changed from JPY
31 million to JPY 29 million each in accordance with the loan agreement as of November 19, 2009
(including change or adjustments made thereafter) (however, the amount of the repayment of partial
borrowing as of May 31, 2010 may vary).
Outstanding of borrowing in the above list is the amount after the repayment of part of borrowing as ofApril 30, 2010 and figures are rounded down to the indicated unit. The same shall apply hereinafter.
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2. 24 individual credit loan
Debtor bank

Outstandingof Borrowing(mn JPY)

Borrowingdate

Maturity date

3,741 (note)

Nov. 24, 2009

Jun. 30, 2010

Aozora Bank, Ltd.

Interest rate
2.73385 % (May 1, 2010 to May 31, 2010)(Note) As disclosed in the press release titled “Notice concerning Change of Terms of Existing Borrowings”
dated March 30, 2010, part of borrowing (JPY 9.5 million) is scheduled to be repaid as of April 30,2010.

3. 25 individual credit loan
Debtor bank

Outstandingof Borrowing(mn JPY)

Borrowingdate

Maturity date

1,076 (Note)

Nov. 24, 2009

Jun. 30, 2010

Shinsei Bank, Limited

Interest rate
2.73385 % (May 1, 2010 to May 31, 2010)(Note) As disclosed in the press release titled “Notice concerning Change of Terms of Existing Borrowings”
dated March 30, 2010, part of borrowing (JPY 3.5 million) is scheduled to be repaid as of April 30,
2010.

4. Term loan (D)Outstandingof Borrowing(mn JPY)

Debtor bank

Borrowingdate

Maturity date

The Chuo Mitsui Trust and Banking Company,
11,453 (Note)
Feb.3, 2010
Jun. 30, 2010
LimitedInterest rate
Aozora Bank, Ltd.
Resona Bank, Limited
Mitsubishi UFJ Trust and Banking Corporation
1.73385 % (May 1, 2010 to May 31, 2010)
The Musashino Bank, Ltd.
(Note) As disclosed in the press release titled “Notice concerning Change of Terms of Existing Borrowings”
dated March 30, 2010, part of borrowing (JPY 23 million) is scheduled to be repaid as of April 30, 2010.

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5. Term loan (Shinsei Trust & Banking Co., Ltd.)
Debtor bank

Outstandingof Borrowing(mn JPY)

Borrowingdate

Maturity date

16,800Mar. 30, 2007

Sep. 30, 2010

Shinsei Trust & Banking Co., Ltd.

Interest rate
3.23385 % (April 30, 2010 to May 30, 2010)

Note: This English language notice is a translation of the Japanese language notice released on April 27,
2010 and was prepared solely for the convenience of, and reference by, non-Japanese investors. No
warranties or assurance are given for its accuracy or completeness of this English translation.

[For reference]
Borrowing amount outstanding after the repayment of part of borrowings as of April 30, 2010
(Units: mn JPY, figures rounded down to a mn JPY)

Before repayment

After repayment

Short-term debt

27,79927,734Long-term debt to be
repaid within one year

20,626

20,626Long-term debt
Total debt－－
48,425-65－－48,360

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Balance-65