NOT FOR DISTRIBUTION, DIRECTLY OR INDIRECTLY, IN OR INTO THE UNITED STATES, CANADA OR JAPAN GLOBAL LOGISTIC PROPERTIES LIMITED

(Registration No. 200715832Z) (Incorporated in Singapore on August 28, 2007)

CHANGE OF INTEREST IN INDIRECT WHOLLY-OWNED SUBSIDIARY

Global Logistic Properties Limited (the "Company") wishes to announce that the Company has through its wholly-owned subsidiary, Japan Logistic Properties 2 Pte. Ltd. ("JLP2") transferred its entire 100% stake in Kashiwa Two Pte. Ltd. (formerly known as Shiodome (13) Logistic Pte. Ltd.) ("Kashiwa Two") to GLP Japan Development Singapore Holdings Pte. Ltd., a jointly-controlled entity of the Company and GLP Neptune Holdings Limited, an indirect subsidiary of the Company in the proportion of 59:41 (the "Transfer"). The total cash consideration for the Transfer is JPY10,000 (the "Consideration").
The Consideration was arrived at arm's length and a willing buyer, willing seller basis, after taking into account the consolidated book value of Kashiwa Two at the time of the Transfer. The Consideration for the Transfer was funded from internal resources.
As at 28 February 2015, the book value and net tangible asset value of the shares in Kashiwa Two was negative JPY134,831.
Following the above Transfer, Kashiwa Two will cease to be a subsidiary of JLP2 and an indirect wholly-owned subsidiary of the Company and will become an indirect jointly-owned entity of the Company.
The Transfer is not expected to have any material impact on the net tangible asset value and earnings per share of the Company for the financial year ending 31 March 2015.
None of the directors or controlling shareholders of the Company has any interest, direct or indirect, in the above transactions, save for their respective interest, through their shareholdings and/or directorships, as the case may be, in the Company.
By Order of the Board of

GLOBAL LOGISTIC PROPERTIES LIMITED

Fang Xie, Heather
Chief Financial Officer
30 March 2015

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