JAPAN RETAIL FUND

Japan Retail Fund Investment Corporation (JRF) has been listed on the Real Estate Investment Trust (“REIT”) Section on the Tokyo Stock Exchange (Securities code: 8953) since March 2002. It was the first investment corporation in Japan to specifically target retail property assets. As the largest J-REIT that specializes in retail properties, JRF will strive to secure stable distributions for its unitholders and steady increases in the value of its property portfolio through selective acquisi... tions of prime retail properties. JRF entered into an asset management agreement with Mitsubishi Corp.-UBS Realty Inc. for asset management services. The Asset Manager, which is the first cross-border J-REIT asset management company, is owned 51% by Mitsubishi Corporation and 49% by UBS Asset Management AG.More