NEWS RELEASE

Japan Real Estate Investment CorporationMarch 19, 2010
To whom it may concern:<Investment Corporation>
Japan Real Estate Investment Corporation
Taketo Yamazaki, Executive Director(TSE code: 8952)<Asset Management Company>
Japan Real Estate Asset Management Co., Ltd.
Kazuhiko Arahata, CEO & President
Contact: Toru Kimura, General Manager, Planning Department
Phone: +81-3-3211-7921

Notice concerning New Loan
Announcement is hereby made that on March 19, 2010, Japan Real Estate Investment Corporation willprocure funds through the following loans:
1. Reason for drawing down of the loans
To apply the part of funds toward the purchase of additional share of domestic real estate (TokyoOpera City Building) announced on February 10, 2010 and the funds toward the repayment of existing
long-term loans (long-term loans of total ¥10,000 million executed on March 24, 2008)
2. Details of loan
<Short-term loan>(1) Start of the loan period:
March 24, 2010
(2) Total amount of loan:¥8,000 million(3) Lender, amount of loan, and principal repayment date:Principal repayment date(pre-payment possible)
Mizuho Corporate Bank, Ltd.
¥2,000 million
March 24, 2011The Bank of Tokyo-Mitsubishi UFJ, Ltd.
¥2,000 million
March 24, 2011
Mitsubishi UFJ Trust and Banking Corporation¥2,000 million
March 24, 2011
The Sumitomo Trust & Banking Co., Ltd.
¥2,000 million
March 24, 2011
Interest rate:
0.5554%(from March 24, 2010 to April 25, 2010)
Borrowing method:
Loan agreements concluded separately with respective lenders on
March 19, 2010
Unsecured/non-guaranteed loan
Interest payment date:
24th of every month until the principal repayment date (includingthe principal repayment date)
Repayment of principal:
Payment in full on the principal repayment dateLender

(4)
(5)

(6)
(7)

Amount of loan

We will inform you of the interest rates on and after April 26, 2010 once they have been decided.

<Long-term loan (ⅰ) >(1) Start of the loan period:
March 24, 2010
(2) Total amount of loan:¥8,000 million(3) Lender, amount of loan, and principal repayment date:LenderAmount of loan

The Chugoku Bank, Ltd.
The Hiroshima Bank, Ltd.
Resona Bank, Ltd.
The Hachijuni Bank, Ltd.
(4) Interest rate:(5) Borrowing method:¥2,000 million¥2,000 million¥3,000 million¥1,000 million(6) Interest payment date:(7) Repayment of principal:

Principal repayment date(pre-payment possible)
March 25, 2013
March 25, 2013
March 25, 2013
March 25, 2013

1.0475%(fixed)
Loan agreements concluded separately with respective lenders on
March 19, 2010
Unsecured/non-guaranteed loan
24th of September and March of every year until the principal
repayment date (including the principal repayment date)
Payment in full on the principal repayment date<Long-term loan (ⅱ) >(1) Start of the loan period:
March 24, 2010
(2) Total amount of loan:¥10,000 million(3) Lender, amount of loan, and principal repayment date:Lender

(4)
(5)

(6)
(7)

Amount of loan

Principal repayment date(pre-payment possible)
March 24, 2014
March 24, 2014
March 24, 2014
March 24, 2014
March 24, 2014

Mizuho Corporate Bank, Ltd.
¥2,000 million
The Bank of Tokyo-Mitsubishi UFJ, Ltd.
¥2,000 million
Mitsubishi UFJ Trust and Banking Corporation¥2,000 million
The Sumitomo Trust & Banking Co., Ltd.
¥2,000 million
Resona Bank, Ltd.
¥2,000 million
Interest rate:
1.2625%(fixed)
Borrowing method:
Loan agreements concluded separately with respective lenders on
March 19, 2010
Unsecured/non-guaranteed loan
Interest payment date:
24th of September and March of every year until the principal
repayment date (including the principal repayment date)
Repayment of principal:
Payment in full on the principal repayment date<Long-term loan (ⅲ)>
(1) Start of the loan period:(2) Amount of loan:(3) Lender:(4) Interest rate:(5) Borrowing method:

March 24, 2010
¥1,000 million
The Gunma Bank, Ltd.
1.2375% (fixed)
Loan agreement concluded on March 19, 2010Unsecured/non-guaranteed loan

(6) Interest payment date:(7) Repayment of principal:(8) Principal repayment date:<Long-term loan (ⅳ) >(1) Start of the loan period:(2) Amount of loan:(3) Lender:(4) Interest rate:(5) Borrowing method:(6) Interest payment date:(7) Repayment of principal:(8) Principal repayment date:<Long-term loan (ⅴ) >(1) Start of the loan period:(2) Amount of loan:(3) Lender:(4) Interest rate:(5) Borrowing method:

24th of September and March of every year until the principal
repayment date (including the principal repayment date)
Payment in full on the principal repayment date
March 24, 2014 (pre-payment possible)

March 24, 2010
¥2,000 million
The Bank of Fukuoka, Ltd.
1.39875% (fixed)
Loan agreement concluded on March 19, 2010
Unsecured/non-guaranteed loan
24th of September and March of every year until the principal
repayment date (including the principal repayment date)
Payment in full on the principal repayment date
March 24, 2015 (pre-payment possible)

March 24, 2010
¥2,000 million
Development Bank of Japan Inc.
1.665% (fixed)
Loan agreement concluded on March 19, 2010
Unsecured/non-guaranteed loan(6) Interest payment date:
24th of September and March of every year until the principal
repayment date (including the principal repayment date)(7) Repayment of principal:
Payment in installments (Note)(8) Final principal repayment March 24, 2017 (pre-payment possible)
date:(Note) Payments of ¥50 million for each 6 month period and payment of ¥1,350 million on the final
principal repayment date3. Balance of interest-bearing debt after the new loan agreements (as of March 24, 2010)(Units: millions of yen)
Before new loans

After new loans

Increase/Decrease

Short-term loans

31,00039,000+8,000Current portion of long-term loans

17,0007,000-10,000

Long-term loans

148,500

171,500+23,000

Total loans

196,500

217,500+21,000

10,00010,000±035,00035,000±045,000

45,000±0241,500

262,500+21,000

Current portion of investment
corporation bonds
Investment corporation bonds(except for current portion)
Total investment corporation
bonds
Total interest-bearing debt

4. Others
Regarding the loan repayment risk, there is no important change to the “Investment risks”
description in the latest securities report submitted on December 25, 2009.

This notice is the English translation of the announcement in Japanese dated March 19, 2010 on ourwebsite. However, no assurance or warranties are given for the completeness or accuracy of thisEnglish translation.