Galileo Japan Trust Strong Interim Result

Highlights in the period are summarised below;

�� Distributable earnings1 of $16.44 million, 5.3% above July 2007 PDS forecast2
�� Confirmation FY08 DPU guidance is 8.00 cents, 11.1% higher than annualised FY07 DPU
�� Total assets increased 56% to A$1.002 billion
�� Acquisition of five properties for ¥32.5 billion (A$329 million)3
�� Five properties independently revalued reflecting a 17.25% (¥3.45 billion) increase above book value
�� Debt to total assets of 52.0%4, lower than peer group
�� NTA of 95 cents per unit, 2.2% higher than at 30 June 2007
�� Office rents reviewed in the period increased by an average 9.9%

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Marc Pallisco

A former property analyst and print journalist, Marc is the publisher of