Cambridge Ind Trust- COMPLETION OF THE ACQUISITION OF 511 AND 513 YISHUN INDUSTRIAL PARK A USE OF PROCEEDS FROM THE PRIVATE PLACEMENT AND PREFERENTIAL

1.1 Cambridge Industrial Trust Management Limited, as manager of Cambridge Industrial Trust (“CIT” and the manager of CIT, the “Manager”), is pleased to announce the completion of the acquisition of the property located at 511 and 513 Yishun Industrial Park A, Singapore 768768 and 768736 respectively (“511 & 513 Yishun Industrial Park A”).

1.2 RBC Dexia Trust Services Singapore Limited, in its capacity as trustee of CIT (the “Trustee”), has today completed the acquisition of 511 & 513 Yishun Industrial Park A from Seksun International Pte. Ltd. pursuant to a put and call option agreement dated 20 October 2010 entered into between the Trustee and Seksun international Pte. Ltd.

511 Yishun Industrial Park A is a 5-storey light industrial building with ancillary workers’ dormitory, clean room facilities and surface carpark lots. 513 Yishun Industrial Park A is a 4-storey industrial building with mezzanine level. These two buildings are connected by a bridge via the second floor of each building. The properties are easily accessible via the Seletar Expressway. Both properties will be leased back to Seksun International pte. Ltd. for five (5) years from legal completion of sale.

2. USE OF PROCEEDS
2.1 Further to the announcements dated 21 October 2010, 1 November 2010, 2 November 2010, 16 November 2010 and 18 November 2010 in relation to the private placement and preferential offering concluded in November 2010 (the “Equity Fund Raising”), the Manager wishes to announce that S$21.8 million of the net proceeds from the Equity Fund Raising has been utilised for the purposes set out in the table below:

	Amount
	S$ million	%
Net proceeds from the Equity Fund Raising *	47.5	100
Less:
Part payment of the purchase price for 511 & 513 Yishun Industrial Park A and estimated acquisition costs	-21.8	-45.9
Balance of net proceeds remaining from the Equity Fund Raising	25.7	54.1

*Net of estimated fees and expenses (including underwriting fees) of approximately S$2.9 million.
Such use of proceeds is in accordance with the stated use in the announcements dated 21 October 2010 and 2 November 2010 in relation to the Equity Fund Raising.