Singapore – Mapletree Investments Pte Ltd (“Mapletree”) announced today that in relation to the underwritten renounceable rights issue of Mapletree Logistics Trust (“MapletreeLog”), it has decided to apply for excess rights units, to take up all rights units which are not taken up by other unitholders of MapletreeLog (“Unitholders”). Mapletree, which is the sponsor and parent of MapletreeLog, had on 24 June 2008 already provided an irrevocable undertaking to the manager of MapletreeLog that it would subscribe in full to its 30.16% rights entitlement in MapletreeLog units.

At the Extraordinary General Meeting of Unitholders on 18 July 2008, independent Unitholders approved, inter alia, a resolution giving Mapletree the option to pick up excess rights units without being obliged to make a mandatory general offer for all other MapletreeLog units. For the purpose of allocating excess rights units, Mapletree will rank last in priority after excess rights applications from all other Unitholders are allocated.

Mr Hiew Yoon Khong, CEO of Mapletree, said, “MapletreeLog is an integral component of the Mapletree group’s funds management platform. We are fully committed to growing our logistics real estate business in the region through this platform. We firmly believe that MapletreeLog continues to be positioned to tap into the bright prospects offered by the logistics industry in Asia. At the rights issue price of S$0.73, we believe this is an excellent investment opportunity. Our decision to take up all unsubscribed rights units is also a demonstration of our strong support and complete confidence in the sustained growth of MapletreeLog. As the sponsor and natural investor in MapletreeLog, we have every confidence that the manager of MapletreeLog will continue to enhance the distribution per unit for Unitholders.”

Important Notice

The contents of this press release are for information only and are not intended, and should not be construed, as an offer of any securities (including units in a collective investment scheme) by Mapletree or any other entity for sale in the United States, or as an invitation or offer to acquire, purchase or subscribe for units in MapletreeLog (“Units”). Any securities described herein have not been and will not be registered under the Securities Act or the laws of any state, and may not be offered or sold within the United States, except pursuant to an exemption from or in a transaction not subject to, the registration requirements of the Securities Act and applicable state laws. There is no intention to register any portion of the proposed rights issue described herein in the United States or to conduct a public offering of securities in the United States.

The rights issue circular in relation to the proposed rights issue will be dispatched to unitholders of MapletreeLog (“Unitholders”) when the offer in relation to the proposed rights issue is made, subsequent to the approval of the proposed rights issue by Unitholders at a general meeting.

A potential investor should read such rights issue circular before deciding whether to subscribe for or purchase rights units under the proposed rights issue. The value of the Units and the income from them may fall as well as rise. Units are not obligations of, deposits in, or guaranteed by, the Manager of MapletreeLog or any of its affiliates. An investment in Units is subject to investment risks, including the possible loss of the principal amount invested.