April 1, 2016
For Immediate Release
Real Estate Investment Trust Securities Issuer
Star Asia Investment Corporation
Representative: Atsushi Kato, Executive Director(Code: 3468)
Asset Management Company
Star Asia Investment Management Co., Ltd.
Representative: Atsushi Kato
President and CEO
Contact: Toru Sugihara
Director and CFO
TEL: +81-3-5425-1340

Notice of Provisional Price Range with Regard to Issuance of New Investment Units and Secondary
Offering of Investment UnitsStar Asia Investment Corporation (SAR) announces that it determined at the Board of Directors meeting held today
the provisional price range with regard to issuance of new investment units through public offering concerning
issuance of new investment units and secondary offering of investment units resolved at the Board of Directors
meeting held on March 16, 2016, as described below.
Provisional conditions for the issue price: 90,000 yen or more but not exceeding 100,000 yen per unit
[Reference]
Total number of investment units to be offered through primary and secondary offerings
1(1) Total number of
235,900 units
investment units to beoffered through primaryoffering:(2) Number of investment
11,800 units (over-allotment)
units to be offered
The number indicates the maximum number of investment units to bethrough secondaryoffered through secondary offering. There may be cases where thisoffering:number is reduced or the secondary offering through over-allotment
itself may not take place at all, depending on the demand for public
offering and other factors.
From April 4, 2016 (Monday) to April 7, 2016 (Thursday)
2 Period of notification ofdemand (book buildingperiod):
April 11, 2016 (Monday)
3 Pricing date:
From April 12, 2016 (Tuesday) to April 15, 2016 (Friday)
4 Subscription period:
April 19, 2016 (Tuesday)
5 Payment date:
April 20, 2016 (Wednesday)
6 Delivery date:
It was determined by comprehensively considering information on
7 Reason for determining
the provisional
contents of assets owned by or planned to be acquired by SAR and on
conditions:other matters regarding SAR, opinions of institutional investors, etc.
who are presumed to be highly capable of calculating the price ofinvestment units of SAR, and other factors.

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Disclaimer: This document is an English translation of a press release for public announcement concerning provisional price range with regard
to issuance of new investment units and secondary offering of investment units by Star Asia Investment Corporation, and has notbeen prepared for the purpose of solicitation of investment. We caution investors to refer to Star Asia REIT’s prospectus and noticeof amendments thereto, if any, without fail and to undertake investment at their own decision and responsibility.

1． Each of the aforementioned items shall be subject to the effectiveness of the filing of the securities

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registration statement in accordance with the Financial Instruments and Exchange Act of Japan.

*Please refer to the press release “Notice Concerning Issuance of New Investment Units and Secondary Offeringof Investment Units” dated March 16, 2016.

* This material is distributed to the press club of the Tokyo Stock Exchange (Kabuto Club), the press club of theMinistry of Land, Infrastructure, Transport and Tourism, and the press club for construction trade publicationsof the Ministry of Land, Infrastructure, Transport and Tourism.
* Star Asia Investment Corporation website address: http://starasia-reit.com/en/

Disclaimer: This document is an English translation of a press release for public announcement concerning provisional price range with regard
to issuance of new investment units and secondary offering of investment units by Star Asia Investment Corporation, and has notbeen prepared for the purpose of solicitation of investment. We caution investors to refer to Star Asia REIT’s prospectus and noticeof amendments thereto, if any, without fail and to undertake investment at their own decision and responsibility.

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