FOR IMMEDIATE RELEASE

First REIT's 4Q 2013 DPU up 14.5% to 1.97 cents SINGAPORE - 17 January 2014 - Bowsprit Capital Corporation Limited ("Bowsprit"), the Manager of First Real Estate Investment Trust ("First REIT" or the "Trust"), Singapore's first healthcare real estate investment trust with properties in Indonesia, Singapore and South Korea, today announced a 14.5% year-on-year ("y-o-y") increase in distribution per unit ("DPU") to 1.97 cents for the fourth quarter ended 31 December 2013 ("4Q

2013").
This brings the total annualised DPU to 7.52 cents, a gain of 14.3% from the preceding period in 2012, excluding the gain on divestment of the Adam Road property. Based on the closing price of S$1.04 on 16 January 2014, First REIT registered a distribution yield of 7.2%. Total distributable income to Unitholders for 4Q 2013 rose
26.2% to S$14.0 million, compared to S$11.1 million in 4Q 2012.
Gross revenue and net property income grew 48.2% and 41.6% y-o-y to S$22.8 million and S$21.7 million respectively in 4Q 2013. The growth was mainly attributable to contribution from the two newly acquired properties, Siloam Hospitals Bali ("SHBL") and Siloam Hospitals TB Simatupang ("SHTS").
On a full-year basis, the Trust's gross revenue and net property income rose 44.5% and 40.1% to S$83.3 million and S$80.2 million respectively. Total distributable income grew 24.9% to S$52.1 million compared to S$41.7 million in FY 2012.
"We are pleased with the Trust's performance and growth in 2013, having achieved a number of milestones with the completion of the 5-storey extension to our Lentor Residence in Singapore, the acquisitions of two new properties in Indonesia and significantly, achieving our target asset value of over S$1 billion. These developments have enhanced our income stream and enabled the Trust to deliver stable and growing distributions to our Unitholders. Moving into 2014, we will continue to look at our Sponsor's strong pipeline of hospitals for acquisitions, opportunities in other parts of Asia as well as potential asset enhancement initiatives with existing properties," said Dr Ronnie Tan, Bowsprit's Chief Executive Officer.

Key highlights for 4Q 2013