CROESUS RETAIL TRUST ("CRT"), supported by Marubeni Corporation ("Marubeni") and Daiwa House Industry Co., Ltd("DAIWA HOUSE") as strategic partners , launches Initial Public Offering on Singapore Exchange Securities Trading Limited.

May. 07. 2013
Marubeni Corporation

CROESUS RETAIL TRUST ("CRT"), supported by Marubeni Corporation ("Marubeni") and Daiwa House Industry Co., Ltd. ("DAIWA HOUSE") as strategic partners, is making a public offering opening on May 3, 2013, and launching an Initial Public Offering in Singapore Exchange Securities Trading Limited on May 10, 2013.

CRT is a retail trust focusing on commercial facilities in the Asia-Pacific region including Japan and China. Total capital issued will be S$396 million. Excluding unallocated units, 229 million units will be newly offered and the offering price will be S$0.93 per units.

As strategic partners, we, Marubeni and Daiwa House, will support CRT as follows;

1. We will offer three properties that may create a stable revenue base, as CRT launches an
     initial public offering.
     Marubeni: 1 property (Luz Shinsaibashi)
     Daiwa House: 2 properties (Aeon Town Moriya, Aeon Town Suzuka by Daiwa House)
2. Marubeni has granted CRT voluntary Rights of First Refusal (“ROFR”) of three retail real
     estate properties, namely Luz Omori, and those currently possessed and under development
     in Shenyang and Shanghai, China.
3. We, Marubeni and Daiwa House have granted CRT voluntary ROFRs to acquire further real 
     estate properties across Asia-Pacific ex-Japan.
4. We will take a 10% stake of CRT’s operating company, CRT Trustee-Manager respectively.

Marubeni and Daiwa House will aim to develop commercial facilities in China and South-East Asia region to contribute further development of CRT.

<CRT Trustee Manager Investment Partner Outlines>

1. Croesus Partners Pte.Ltd
   1. Address: Singapore
   2. Representative: Mr. Jim Chang (CEO) / Mr. Jeremy Yong (Group Managing Director)
   3. Business: A subsidiary of Croesus Merchants International Pte.Ltd, Asset
       Management for Private Equity and real estates across North America and Asia
   4. Established: December, 2011
   5. Investment Ratio: 80%

2. Daiwa House Industry Co., Ltd.
   1. Address: Osaka, Japan
   2. Representative: Naotake Ohno (President and COO)
   3. Business: Construction, Urban and residential area development in Japan and abroad.
   4. Start of Operation: April , 1955
   5. Investment Ratio: 10%