Everyday Malls Primed For Defensive Growth

Lippo-Mapletree Indonesia Retail Trust ("LMIR Trust"), the first real estate investment trust ("REIT") in Singapore to provide exposure to Indonesia's growing retail sector, is focused on enhancing shareholder value through active asset enhancement and sound financial management that ensure steady and defensive income for investors.

LMIR Trust's portfolio comprises eight high-quality retail malls and seven retail spaces located within other malls with a combined net lettable area ("NLA") of 402,632 sqm and valuation of S$830 million as at December 31, 2008. Strategically located within large urban middle-class population catchment areas in Greater Jakarta, Bandung and Medan, LMIR Trust's portfolio properties are everyday malls popular with middle-to-upper-middle-income domestic consumers in Indonesia. Top tenants include wellknown international and domestic retailers and brandnames, such as Matahari Department Store, Hypermart, Giant Hypermarket, Gramedia Bookstore, Starbucks, Giordano, Fitness First, Sports Station and Studio 21 Cinema.

Since its listing on November 19, 2007, LMIR Trust has undertaken prudent acquisition to prime the vast potential of its portfolio for long-term growth. This included the acquisition of Sun Plaza, a landmark retail mall in Medan, the third most populous city in Indonesia after Jakarta and Surabaya. To-date, LMIR Trust's malls and retail spaces continue to enjoy a strong average occupancy rate of 95.7% compared to the 84.6% industry average.

Going forward, LMIR Trust will look towards focusing on organic growth through proactive asset management to maintain its strong occupancy.

About the Sponsor and the Manager

The Sponsor of LMIR Trust is PT Lippo Karawaci Tbk, Indonesia's largest listed property company and an internationally recognised corporation with a track record and dominant position within the property industry in Indonesia.

The Manager, Lippo-Mapletree Indonesia Retail Trust Management Ltd, is incorporated in Singapore and 60.0% indirectly owned by the Sponsor and 40.0% owned by Mapletree Management Pte. Ltd, a whollyowned subsidiary of the Mapletree Group, a leading real estate company in Singapore with an asset base of S$4.5 billion comprising office, logistics, industrial, retail and lifestyle properties.