<For translation purposes only>
April 22, 2011
For Immediate Release
REIT Issuer
Hankyu REIT, Inc. (Securities Code: 8977)
19-19 Chaya-machi, Kita-ku, Osaka
Shuichiro Takahashi, Executive Director
Asset Management Company
Hankyu REIT Asset Management, Inc.
Shuichiro Takahashi, President & Representative
Director
Contact:
Kiyoyuki Takahashi
General Manager, Corporate Planning Dept.
Email: hankyureit-ir@hankyu-rt.jp

Notice Concerning Debt Financing

Hankyu REIT, Inc. (hereafter “Hankyu REIT”) announces today its decision for debt financing as described below.
1. Reason for the Debt Financing
These funds will be allocated towards the repayment of 6,600 million yen in borrowings, which become due on May 16,
2011.
2. Details of the Debt Financing (Anticipated)

Category

LenderAmount of debt
financing(millions of yen)Mizuho Corporate
Bank, Ltd.

1,200

The Bank ofTokyo-Mitsubishi
UFJ, Ltd.

1,200

The Senshu Ikeda
Bank, Ltd.

1,200

Short-termborrowing Sumitomo Mitsui
Banking
Corporation
Mitsubishi UFJ
Trust and Banking
Corporation
The Sumitomo
Trust and Banking
Co., Ltd.
Total

Interest rate(Note)

Execution
date of loan

Lending
method,repayment
methodRepayment
term

Reference interest

Japanese Yen
1,000Unsecured/non-guaranteed

rate (JBA 3-monthTIBOR) + 0.85%

May 16, 2011

May 16, 2012
Bulletrepayment

Variable interest
1,000

1,0006,600(Notes) • Interest payment dates are August 16, 2011, November 16, 2011, February 16, 2012, and May 16, 2012.
• The reference interest rate that will be adopted for the interest paid on the interest payment date shall be the JBA 3-month
Japanese Yen TIBOR of the day two business days before the interest payment date directly preceding the relevant interestpayment date (or the execution date of loan if it is the first interest payment date). (Effective April 21, 2011, the JBA 3-month
Japanese Yen TIBOR is 0.34000%.)• The JBA 3-month Japanese Yen TIBOR can be referenced at the Japanese Bankers Association’s website:
http://www.zenginkyo.or.jp/tibor/• In the future, Hankyu REIT will not provide notification regarding the determination of interest rates related to the aforesaidborrowings. To check for changes to the applicable reference interest rate, please go to the Japanese Bankers Association’swebsite.

13. Use of Funds
Capital for repayment of borrowings belowCategory

Long-termdebt

Amount of debt
financing(millions of yen)

LenderMizuho Corporate
Bank, Ltd.

1,200

The Bank ofTokyo-Mitsubishi
UFJ, Ltd.

1,200

The Senshu Ikeda
Bank, Ltd.

1,200

Sumitomo Mitsui
Banking
Corporation
Mitsubishi UFJ
Trust and Banking
Corporation
The Sumitomo
Trust and Banking
Co., Ltd.
Total

Execution
date of loan

May 15, 2008
1,000

Lending method,
repayment
methodUnsecured/
non-guaranteed

Repaymentterm

May 16, 2011

Bullet repayment

1,000

1,000
6,600

4. Balance of Interest-bearing Debt After This Debt Financing
Before execution of this loan
(millions of yen)

After execution of this loan
(millions of yen)

Variation(millions of yen)

Short-term borrowing

4,900

11,500+6,600Long-term debt (Note)

52,60046,000－6,600Total interest-bearing
debt

57,50057,500±0(Note) Long-term debts are loans with a repayment term (from loan execution date until the due date) that exceeds one year.

5. Other matters pertinent to the appropriate understanding and judgments of investors concerning the above information
The risks associated with this debt financing, such as risks of repayment, have not changed in any material way fromthe “Investment Risks” stated in the most recent Securities Report (submitted on February 24, 2011).

•The Japanese original document was distributed to press clubs within the Tokyo Stock Exchange (Kabuto Club), Osaka
Securities Exchange, Ministry of Land, Infrastructure, Transport and Tourism, and to the press club of the construction trade
newspaper of the Ministry of Land, Infrastructure, Transport and Tourism.

•Hankyu REIT website: http://www.hankyu-reit.jp/2