Cambridge Industrial Trust : Announces Name Change To ESR-REIT

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

• Name change further reflects alignment with Sponsor e-Shang Redwood ("ESR")

• New identity integrates ESR's corporate identity

• The REIT to leverage on ESR's network in its business activities and is a display of ESR's commitment to the REIT

• The REIT's short trading name, logo and website address will be effected from 9.00 a.m on 23 June

In conjunction with the name change, the REIT's short trading name on the SGX-ST will be changed from "CREIT" to "ESR-REIT" with effect from 9.00 a.m on 23 June 2017. The REIT's stock code "J91U" remains unchanged.

Mr Adrian Chui, Chief Executive Officer and Executive Director, said this name change signifies the importance of the REIT as part of the e-Shang Redwood Group's business activities and its continued support.

"As a leading pan-Asia logistics and industrial developer, owner, operator and fund manager, ESR has a strong track record and presence in the Asia Pacific logistics and industrial real estate sector. Our ties with them will enable us to leverage on shared networks and expertise for our tenants, have greater resources to support the REIT's continued expansion efforts via asset acquisitions and development projects, and be well-poised to take on the next stage of growth for our Unitholders," said Mr Chui.

Following the REIT's name change, changes to the following will also take effect from 23 June 2017:

1. Change of logo

   The logo of the REIT will be changed to the following:

2. Change of website

The website address of the REIT will be changed from www.cambridgeindustrialtrust.com to: www.esr-reit.com.sg

For media and analyst enquiries, please contact:

Cheryl Lim

Marketing Communications Manager Tel: +65 6222 3339

cheryl.lim@cambridgeitm.com

About Cambridge Industrial Trust

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 49 properties located across Singapore, with a total gross floor area of approximately 8.4 million sq ft and a property value of S$1.35 billion as at 31 March 2017. The properties range from logistics, warehousing, light industrial, general industrial, a car showroom and a workshop to a business park, and 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 owned by two stakeholders, namely, e-Shang Redwood Limited ("ESR") (indirectly 80 percent) and Mitsui & Co., Ltd ("Mitsui") (20 percent):

• ESR is a leading pan-Asia logistics real estate developer, owner and operator focused on the key metropolitan areas most closely tied with consumption and global trade. Co-founded by Warburg Pincus and backed by some of the worlds' preeminent investors including APG, PGGM, CPPIB, Ping An, Morgan Stanley and Goldman Sachs, ESR's platform represents one of the largest in the region with over 7.3 million square metres of projects owned and under development across China, Japan and South Korea, and capital and funds management offices in Hong Kong and Singapore. ESR is one of the largest third-party landlords for market leading top e-commerce companies, "bricks-and-mortar" retailers, third party logistics providers and cold storage companies across the region.

• 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

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 (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 announcement 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 announcement 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 announcement 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.