Mori Building Co., Ltd. (Minato Ward, Tokyo; President Minoru Mori) at the board of directors meeting held on February 22, 2011, resolved to conduct an asset acquisition and transfer as detailed below.

[Acquisition Summary]
Asset to be acquired Real estate (*2)
Property name Motoazabu Hills
Acquisition price (*1) 16,240,000,000 yen
Scheduled sales agreement conclusion date March 18, 2011
Scheduled acquisition date March 18, 2011
Acquiring party Mori Hills REIT Investment Corporation

[Transfer Summary]
Asset to be transferred Real estate (*3) Real estate (*4)
Property name Ark Mori Building Akasaka Tameike Tower
Transfer price (*1) 9,770,000,000 yen 6,730,000,000 yen
Scheduled sales agreement conclusion date March 18, 2011 March 18, 2011
Scheduled transfer date March 18, 2011 March 18, 2011
Purchasing party Mori Hills REIT Investment Corporation Mori Hills REIT Investment Corporation

*1: The amount shown is minus total expenses, fixed asset tax, urban planning tax, consumption tax, etc.
*2: This acquisition involves the acquisition of the classification ownership for 23 partitions including the 63 residences and ancillary facilities of Motoazabu Hills.
*3: This transfer involves the transfer of the trust beneficiary rights for the trust beneficiary for the 50% joint-ownership of the classification ownership of the 23rd floor of the Ark Mori Building and the classification ownership for the 25th floor.
*4: This transfer involves the transfer of the trust beneficiary rights for the trust beneficiary for the classification ownership of 87 residences, the 84.8% joint ownership of the classification ownership of 1 residence, and the 31.6% joint ownership of the classification ownership for automobile and bicycle/motorcycle parking lots.