Tower Real Estate Investment Trust

Income and growth

Real Estate Investment Trust (“REIT”)

To invest in a portfolio of quality office buildings and commercial properties in order to:
> provide unit holders with regular and stable distributions; and
> achieve medium to long term growth in the Net Asset Value per unit.

Approximately 100% of the Distributable Income to unitholders was distributed for the financial period from the establishment date to 31 December 2006 and the financial year ended 31 December 2007. Thereafter, the Manager intends to distribute at least 90% of the Distributable Income for the relevant financial years.

The Manager intends to make semi-annual distributions to unitholders with the amount calculated as at 30 June and 31 December each year or such other percentages and at such other intervals as determined by the Manager at its discretion.

30 June

280,500,000 Units