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Update Following Earthquake In Northeast Japan

BackMar 15, 2011

Ascott Residence Trust Management Limited, as manager of Ascott Residence Trust ("Ascott Reit"), wishes to inform that Ascott Reit's properties in Japan (2 serviced residences and 18 rental housing properties), which are all located in Tokyo, did not suffer any significant damage arising from the earthquake. As at 31 December 2010, the value of Ascott Reit's Japan assets of approximately S$287 million represents 10.6% of Ascott Reit's share of asset values. All the staff are also safe and accounted for.

Ascott Reit has not suffered any significant impact to its business at this juncture. It is too early to assess the full potential impact, but based on current information, Ascott Reit does not expect any significant impact to its overall business. The current focus is to continue to monitor the situation closely and provide any necessary assistance to staff and residents at our properties. We will provide further updates as and when there are material developments.