First Indonesia Retail Real Estate Investment Trust in Singapore

Lippo Malls Indonesia Retail Trust ("LMIR Trust"), the first and only retail real estate investment trust ("REIT") listed on SGX-ST, aims to provide exposure to Indonesia's growing retail property sector. It is established with the objective of investing on a long-term basis in a diversified portfolio of income-producing retail properties in Indonesia that is primarily used for retail and / or retail-related purposes, and real estate related assets in connection with the foregoing purposes. The Manager's focus is to maintain good occupancy and balanced property and tenant diversification across the portfolio, through proactive asset management of the retail malls and spaces.

As at 31 December 2010, LMIR Trust's portfolio comprises eight retail malls (collectively, the "Retail Malls") and seven major retail units located within other retail malls (collectively, the "Retail Spaces"). All of these properties are located in Indonesia with a combined net lettable area ("NLA") of 398,079 sq m and has a valuation of S$1.082 billion.

Strategically located within large urban middle-class population catchment areas in Greater Jakarta, Bandung and Medan, LMIR Trust's portfolio properties are everyday malls favoured by middle to upper-middle income domestic consumers in Indonesia. Tenants at the retail malls and retail spaces include well known international and domestic retailers, such as Matahari Department Store, Hypermart, Giant Hypermarket, and Centro. The anchor tenants are complemented by popular specialty brands such as Bread Talk, McDonald's, Starbucks, Ace Hardware, Fitness First, Timezone, Giordano and Studio 21 Cinema.

LMIR Trust portfolio occupancy remains higher than the industry average, with an occupancy rate of 98.3% as at 31 December 2010. The portfolio is very defensively placed with staggered lease expiries in the next few years to ensure a steady earnings base.

Going forward, LMIR Trust will look towards focusing on organic growth through proactive asset management to maintain its strong occupancy, as well as strategic acquisitions whenever it is appropriate.