First Reit - RESULTS OF EXTRAORDINARY GENERAL MEETING HELD ON 29 NOVEMBER 2010

Bowsprit Capital Corporation Limited, in its capacity as manager of First Real Estate Investment Trust (“First REIT” and as manager of First REIT, the “Manager”), is pleased to announce that at the extraordinary general meeting of unitholders of First REIT (“Unitholders”) held at 2.00 p.m. on Monday, 29 November 2010 at Mandarin Ballroom 2, Level 6, Main Tower, Mandarin Orchard Singapore, 333 Orchard Road, Singapore 238867, all four resolutions as set out in the Notice of Extraordinary General Meeting dated 10 November 2010 were duly passed.

These resolutions relate to:
(i) the acquisition of Mochtar Riady Comprehensive Cancer Centre, which is located at Jalan Garnisun Dalam RT. 010/001 Kelurahan Karet Semanggi, Kecamatan Setiabudi, South Jakarta, Indonesia (“MRCCC”) and the master lease of MRCCC;

(ii) the acquisition of Siloam Hospitals Lippo Cikarang, which is located at Jalan Mohammad Husni Thamrin Kav.105, Lippo Cikarang, Bekasi 17550, Indonesia (“SHLC”) and the master lease of SHLC;

(iii) the issue of 345,664,382 new units in First REIT (“Units”, and the new Units, the “Rights Units”) on a fully underwritten and renounceable basis to Eligible Unitholders (the “Rights Issue”) on a pro rata basis of five (5) Rights Units for every four (4) existing Units held as at 5.00 p.m. on 3 December 2010 (the “Rights Issue Books Closure Date”), at the issue price of S$0.50 per Rights Unit, fractional entitlements to be disregarded; and

(iv) the waiver by Independent Unitholders2 of their rights to receive a mandatory take-over offer from Lippo and the Concert Parties, which would otherwise result in a mandatory offer pursuant to Rule 14 of the Singapore Code on Takeovers and Mergers, as set out in the circular to Unitholders dated 10 November 2010.