Cambridge Industrial : Payment Of Acquisition Fee By Way Of Issue Of Units In Cambridge Industrial Trust To The Manager

(Constituted in the Republic of Singapore pursuant to a trust deed dated 31 March 2006 (as amended))

Cambridge Industrial Trust Management Limited ("the Manager") wishes to announce that
85,922 units ("Units") in Cambridge Industrial Trust ("CIT") have been issued today to the Manager, in its capacity as manager of CIT. The Units were issued as payment of the acquisition fee in relation to the acquisition of the remaining 40% partnership interest (the "Acquisition") in Cambridge SPV1 LLP ("LLP") from Oxley Projects Pte. Ltd. (formerly known as Oxley Opportunity #9 Pte. Ltd.) ("Oxley"). The LLP holds an industrial property at 3 Tuas South Avenue 4 Singapore 637610 (Lot 3633K Mukim 7).
Oxley is an interested party under Appendix to the Code on Collective Investment Schemes ("Property Funds Appendix") and an interested person under Chapter 9 of the Listing Manual of Singapore Exchange Securities Trading Limited ("SGX-ST") on 20 March 2015, the completion date of the Acquisition. The Units were issued at an issue price of S$0.6983 per Unit (the "Issue Price").
In accordance with the trust deed of CIT ("Trust Deed") and the Property Fund s Appendix, when CIT acquires real estate assets from an interested party or interested person, the acquisition fee payable to the Manager on such an acquisition shall be paid in the form of Units issued by CIT at the prevailing market price. In addition, the Units should not be sold within one year from the date of issuance.
Pursuant to the Trust Deed, the Issue Price was determined based on the volume weighted average price for a Unit for all trades done on the SGX-ST in the ordinary course of trading on the SGX-ST from 6 March 2015 to 19 March 2015 being the 10 business days immediately preceding the completion date of the Acquisition.
Following the above issue of Units, the total Units in issue is 1,278,589,549, of which the
Manager holds 11,186,137 units or approximately 0.87% of the total number of Units.

Cambridge Industrial Trust Management Limited
As Manager of Cambridge Industrial Trust
(Company Registration No. 200512804G, Capital Markets Services Licence No. 100132 -2)
Philip Levinson
Chief Executive Officer and Executive Director
27 March 2015
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Ms Brenda Ng
Manager, Investor Relations & Corporate Communications
Cambridge Industrial Trust Management Limited Tel: +65 6827 9363 brenda.ng@cambridgeitm.com

Angela Campbell-Noë, Senior Partner Jean Zhuang, Director HP: +65 8200 5915 HP: +65 9061 1075 acampbell-noe@tulchangroup.comjzhuang@tulchangroup.com

Cambridge Industrial Trust ("CIT"), publicly listed on the Singapore Exchange Securities Trading Limited since 25 July 2006, is Singapore's first independent industrial real estate investment trust ("REIT").
CIT invests in quality income-producing industrial properties and has a diversified portfolio of
50 properties located across Singapore, with a total gross floor area of approximately 8.4 million sq ft and a property value of S$1.37 billion as at 31 December 2014. They range from logistics, warehousing, light industrial, general industrial, car showroom and workshop to business park properties, which are located close to major transportation hubs and key industrial zones island-wide.
The Manager's objective is to provide Unitholders with a stable and secure income stream
through the successful implementation of the following strategies:

• Acquisition of value-enhancing properties;

• Pro-active asset management;

• Divestment of non-core properties; and

• Prudent capital and risk management.

Cambridge Industrial Trust Management Limited, the Manager of CIT, is indirectly owned by three strategic sponsors, namely, National Australia Bank Group ("NAB") (56%), Oxley Group (24%) and Mitsui & Co., Ltd ("Mitsui") (20%):
• NAB, one of Australia's four largest banks, is an international financial services group that provides a comprehensive and integrated range of financial products and services;
• Oxley Group is an innovative private investment house specialising in real estate and private equity investments across Asia-Pacific; and
• Mitsui is one of the largest corporate conglomerates in Japan and listed on the Tokyo
Stock Exchange. It is one of the largest publicly traded companies in the world. Mitsui also developed the Japan Logistics Fund Inc., a publicly listed REIT in Japan dedicated to investing in distribution facilities.
For further information on CIT, please visit http://www.cambridgeindustrialtrust.com/
CAMBRIDGE INDUSTRIAL TRUST Page 3 of 3

The value of units in CIT ("Units") and the income derived from them may fall as well as rise. Units are not investments or deposits in, or liabilities or obligations, of Cambridge Industrial Trust Management Limited ("Manager"), RBC Investor Services Trust Singapore Limited (in its capacity as trustee of CIT) ("Trustee"), or any of their respective related corporations and affiliates (including but not limited to National Australia Bank Limited, nablnvest Capital Partners Pty Limited, or other members of the National Australia Bank group) and their affiliates (individually and collectively "Affiliates"). An investment in Units is subject to equity investment risk, including the possible delays in repayment and loss of income or the principal amount invested. Neither CIT, the Manager, the Trustee nor any of the Affiliates guarantees the repayment of any principal amount invested, the performance of CIT, any particular rate of return from investing in CIT, or any taxation consequences of an investment in CIT. Any indication of CIT performance returns is historical and cannot be relied on as an indicator of future performance.
Investors have no right to request that the Manager redeem or purchase their Units while the Units are listed. It is intended that investors may only deal in their Units through trading on Singapore Exchange Securities Trading Limited (the "SGX-ST"). Listing of the Units on the SGX-ST does not guarantee a liquid market for the Units.
This release may contain forward-looking statements that involve assumptions, risks and uncertainties. Actual future performance, outcomes and results may differ materially from those expressed in forward-looking statements as a result of a number of risks, uncertainties and assumptions. Representative examples of these factors include (without limitation) general industry and economic conditions, interest rate trends, cost of capital and capital availability, competition from similar developments, shifts in expected levels of occupancy or property rental income, changes in operating expenses (including employee wages, benefits and training costs), governmental and public policy changes and the continued availability of financing in amounts and on terms necessary to support future CIT business. You are cautioned not to place undue reliance on these forward-looking statements, which are based on the Manager's current view of future events.
This release is for informational purposes only and does not have regard to your specific investment objectives, financial situation or your particular needs. Any information contained in this release is not to be construed as investment or financial advice, and does not constitute an offer or an invitation to invest in CIT or any investment or product of or to subscribe to any services offered by the Manager, the Trustee or any of the Affiliates.

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