Aims Amp Reit - Sale of 23 Changi South Avenue 2 Singapore 486443 above independently appraised value

Sale price: S$16.7 million

• Book value as at 30 September 2010: S$16.2 million
• Sale expected to complete in January 2011
• Provides opportunity for future investment opportunities
• In the interim, net sale proceeds will be used to repay debt under the Trust’s newly established revolving credit facility, reducing aggregate leverage to approximately 33.4% from approximately 34.8%
• Continued execution of Manager’s strategy to maximise returns for unitholders

AIMS AMP Capital Industrial REIT Management Limited, the manager (the "Manager") of AIMS AMP Capital Industrial REIT (the "Trust") wishes to announce that HSBC Institutional Trust Services (Singapore) Limited, in its capacity as trustee of AIMSAMPIREIT (the "Trustee"), has today issued an option (the "Option") to Premier Land (East) Pte. Ltd. (the "Purchaser") for the sale (“Sale”) of 23 Changi South Avenue 2 486443 begin_of_the_skype_highlighting 2 486443 end_of_the_skype_highlighting (“Property”) for a consideration of S$16.7 million (the "Sale
Consideration").

The book value of the Property is S$16.2 million based on an independent appraisal by CBRE as at 30 September 2010.

Principal terms of the Sale
The Purchaser has today paid to the Trust S$167,000, equivalent to 1.0% of the Sale Consideration, as a non refundable option fee. The Purchaser will pay S$1.5 million, equivalent to 9.0% of the Sale Consideration, on exercise of the Option on or before 16 November 2010. The balance of the Sale Consideration will be paid in cash on completion of the Sale, which is expected to take place in January 2011.The completion of the Sale is conditional upon, among others, the approval of JTC Corporation to the Sale.

Rationale for the Sale
The Sale is consistent with the Manager’s strategy of recycling the Trust’s capital to maximise returns for unitholders. The Manager adopts a proactive approach towards managing the Trust’s properties with a view to enhancing their quality and value. The approach includes identifying properties within the Trust’s portfolio which have reached the optimal stage of their life cycle for divestment. This allows the Manager to free up capital to provide the Trust with greater financial flexibility for future investment opportunities.

Use of Sale proceeds
The Sale proceeds, net of sale related costs, will be used to repay debt under the Trust’s newly established revolving credit facility, reducing aggregate leverage to approximately 33.4% from approximately 34.8%. This increased headroom will provide the Trust with greater financial flexibility for future investment opportunities.