1. About Fukuoka REIT
2. Overview and History
3. Directors
4. Officers of Fukuoka Realty
5. Total Investment and Major Shareholders
6. Articles of Incorporation
7. Related Corporations
8. Scheme of Fukuoka REIT

About Fukuoka REIT

Fukuoka REIT Corporation (securities code: 8968) is the first region-specific REIT in Japan. With our strength in knowing the local characteristics of real estate, which is a very regional-specific business, Fukuoka REIT manages a portfolio centering on superior design entertainment retail facilities and Class A office buildings in the entire Kyushu region centering on Fukuoka, Yamaguchi and Okinawa prefectures.

Fukuoka REIT was established in August 2004 and listed on the Tokyo Stock Exchange and Fukuoka Stock Exchange on June 21, 2005. Real estate management, acquisition arrangements of new properties, fund raising and other operations are contracted to its asset manager, Fukuoka Realty Co., Ltd.

Name	Fukuoka REIT Corporation
Representative	Masayasu Saki CEO & Representative Director
Address	1-2-25 Sumiyoshi, Hakata, Fukuoka City 812-0018
Contact	Fukuoka Realty Co., Ltd. TEL: 81-92-272-3900
History	June 30, 2004 Fukuoka Realty filed to establish FRC, based on Article 69-1 of the Investment Trusts and Investment Corporations Law of Japan July 2, 2004 Established through the registry of FRC, based on Article 166 of the Investment Trusts and Investment Corporations Law July 15, 2004 Filed for FRC registration, based on Article 188 of the Investment Trusts and Investment Corporations Law August 5, 2004 FRC registered by Prime Minister, based on Article 187 of the Investment Trusts and Investment Corporations Law (Registration number: Fukuoka Local Finance Branch Bureau Director No. 1) June 21, 2005 FRC listed on Tokyo Stock Exchange and Fukuoka Stock Exchange

Directors

Title	Name	Career Summary
CEO and Representative Director	Masayasu Saki	April 1969	Joined The Nippon Fudosan Bank, Limited. (later, The Nippon Credit Bank, Ltd.; currently, Aozora Bank, Ltd.)
		June 1992	Member of the Board and Tokyo Branch Manager
		February 1994	Member of the Board and Director for Financial Product Development
		June 1995	Member of the Board and Director for Marketing Planning Division 2
		June 1996	Executive Director
		June 1998	Senior Executive Director
		November 1999	Director at CSK KK
		November 2000	Executive Officer at Sanyo Shinpan Finance Co., Ltd.
		July 2003	CEO of Fitch Ratings Japan
		April 2006	Advisor of Fukuoka Realty Co., Ltd.
		June 2006	CEO of Fukuoka Realty Co., Ltd.
		July 2006	CEO & Representative Director of Fukuoka REIT Corporation (current position)
Supervisory Director	Atsushi Nagano	April 1966	Joined Securities Bureau, Ministry of Finance
		January 1983	Counselor of Embassy of Japan in the U.K.
		June 1990	Tax Bureau Co-ordination Division Manager
		July 1993	Deputy Director-General of the Banking Bureau
		January 1996	Director-General of the Securities Bureau
		October 2000	Registered by Daini Tokyo Bar Association
		November 2002	Advisor at Nishimura & Partners (current position)
		July 2004	Supervisory Director Fukuoka REIT Corporation (current position)
Supervisory Director	Takashi Shinohara	January 1982	Opened Shinohara Consulting Firm
		April 2004	Supervisor at Kyushu University (current position)
		May 2007	Auditor of Best Denki Co., Ltd. (current position)
		June 2007	Vice President and Executive Board Member of the Hokubu Kyushu Chapter at the Japanese Institute of Certified Public Accountants (current position)
		October 2007	Fukuoka REIT Corporation Supervisory Director (current position)

Officers of Fukuoka Realty

Title	Name
CEO and Representative Director	Masayasu Saki
Managing Director and CFO	Yoichi Nishio
Director(part-time)	Yasumichi Hinago
Director(part-time)	Akira Eto
Director(part-time)	Hiroshi Shimuta
Auditor(part-time)	Masanori Tasaka

Please refer to the Directors page of the asset manager for details. (Japanese Version)

Total Investment and Major Shareholders

（1）Total Investment

Total Investment	60,264,380,000yen
Total investment units	2,000,000units
Total investment units outstanding	107,050units

Changes in total investment and investment units outstanding are as follows.

Date	Event	No. of Investment Units Outstanding	No. of Investment Units	Total Investment	(mm yen)
		Variation	Balance	Variation	Balance
July 2, 2004	Established by private placement	250	250	125	125
November 8, 2004	Additional private placement	82,800	83,050	41,400	41,525
June 20, 2005	Initial public offering	7,000	90,050	5,944	47,469
July 21, 2005	Third-party allotment	2,000	92,050	1,698	49,167
September 7, 2006	Additional public offering	15,000	107,050	11,096	60,264

(2) Major Investors

（ End of 11th Fiscal Period ）

Rank	Investors	Investment Units Held	Share (Note)
1	Fukuoka Jisho Co., Ltd.	15,602	14.57%
2	NikkoCiti Trust and Banking Corporation (Investment trust account)	8,510	7.95%
3	Japan Trustee Services Bank, Ltd. (Investment trust account)	8.342	7.79%
4	Trust & Custody Services Bank, Ltd. (securities Investment trust account)	6.930	6.47%
5	Fuji Fire and Marine Insurance Co., Ltd.	4.578	4.28%
6	STATE STREET BANK AND TRUST COMPANY	4.195	3.92%
7	The Nomura Trust and Banking Co.,Ltd (Investment trust account)	3.430	3.20%
8	The Master Trust Bank of Japan,Ltd. (Trust account)	3.350	3.13%
9	Kazuhiko Enomoto	3.070	2.87%
10	American Life Insurance Company GAL	2.500	2.34%

(Note) Share indicates the share of Investment units held to the total investment units outstanding.

Articles of Incorporation

• Article of Incorporation(Japanese Version) (PDF: 218KB)

Related Corporations

Outsourcing Category	Name
Asset Manager	Fukuoka Realty Co., Ltd.
Trustee/Asset Custodian	Mitsubishi UFJ Trust and Banking Corporation
Transfer Agent	The Sumitomo Trust and Banking Co., Ltd.

Scheme of Fukuoka REIT