FOR IMMEDIATE RELEASE

February 1, 2013
Company Name: Leopalace21 Corporation
Representative: Eisei Miyama, President and CEO
Code Number: 8848 (Tokyo Stock Exchange, First Section) Contact: Bunya Miyao, General Manager
Tel: +81-3-5350-0216
E-mail: ir@leopalace21.com

Notice Concerning Monthly Exercise Status of Stock Acquisition Rights (with option to reset strike price) issued through Third Party Allotment (Target Issue Program "TIP" subject to Issuer's approval for exercise)

Leopalace21 reports the following exercise status for January 2013 concerning the 2nd series of stock acquisition rights ("SARs") issued through third party allotment on February 27, 2012.

1. Name of SARs

Leopalace21 Corporation 2nd Series of Stock Acquisition Rights

Shares granted during

2.

subject month

9,000,000 shares (9,000,000 SARs)

Exercised face value during subject month and

3.

ratio of exercised to total

SARs issued

2,700,000 thousand yen (64.29% of total SARs issued)

Number of unexercised

4. SARs as of the end of

December 2012

14,000,000 SARs (14,000,000 shares)

Number of unexercised

5. SARs as of the end of

January 2013

5,000,000 SARs (5,000,000 shares)

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