Global Logistic Properties : STATUTORY ANNOUNCEMENT - ACQUISITION OF INDIRECT ASSOCIATED COMPANIES

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

Global Logistic Properties Limited (the "Company") wishes to announce that Shiodome (16) Logistic Pte. Ltd., an indirect wholly-owned subsidiary of the Company, has acquired 25% interest in the following companies known as (a) GLP Logistic Two Special Purpose Company ("GLP Logistic Two"); and (b) GLP Logistic Three Special Purpose Company ("GLP Logistic Three") (the "Acquisition") for a consideration of JPY25,000 for each company (the "Considerations"). Details relating to the Acquisition are as follows:

Name of company : GLP Logistic Two Special Purpose Company Country of Incorporation : Japan

Paid-up Capital : JPY100,000

Principal activities : Property Investment

Name of company : GLP Logistic Three Special Purpose Company Country of Incorporation : Japan

Paid-up Capital : JPY100,000

Principal activities : Property Investment

The Considerations were arrived at on a "willing-buyer willing-seller" basis after arm's length negotiation, taking into account the book value of each of the companies at the time of the Acquisition and were funded by internal resources.

As at 28 February 2017, the book value and net tangible asset value of each of the companies was JPY100,000.

Following the Acquisition, each of GLP Logistic Two and GLP Logistic Three will become indirect associated companies.

The Acquisition 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 2017.

None of the directors or controlling shareholders of the Company has any interest, direct or indirect, in the Acquisition, 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

Fang Xie, Heather Chief Financial Officer

31 March 2017

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