Global Logistic Properties Limited's IPO Attracts Strong Response from Institutional and Retail Investors

Singapore, October 15, 2010 – Global Logistic Properties Limited (“GLP” or “the Company”), a market leader in modern logistics facilities in China and Japan, announced today that its initial public offering (“IPO” or “Offering”) has received strong interest from institutional and retail investors.

Based on the aggregate number of 1,173,244,000 Offering Shares under the Offering, the indications of interest for approximately 13,020 million Offering Shares under the Placement and the valid applications for approximately 1,133 million Offering Shares received under the Public Offer, the Offering is approximately 12 times subscribed.

The international Placement tranche of 1,070,869,000 Offering Shares also drew strong interest from institutional investors. Based on the 1,070,869,000 Offering Shares allocated to the Placement, the indications of interest for approximately 13,020 million Offering Shares under the Placement, represent approximately 12 times the Offering Shares allocated to the Placement.

At the close of the application list at 10.00 a.m. on October 14, 2010, 88,393 valid applications were received for the 102,375,000 Offering Shares made available to the public for subscription at S$1.96 each under the Public Offer. In total, these applicants applied for an aggregate of approximately 1,133 million Offering Shares, with application monies received amounting to approximately S$2,221 million. This works out to a subscription rate of 11 times for the Public Offer.

In connection with its listing on the Main Board of the Singapore Exchange Securities Trading Limited (“SGX-ST”), GLP’s IPO of 1,173,244,000 Offering Shares had comprised an international placement of 1,070,869,000 Offer Shares at S$1.96 each (inclusive of a public offering without listing of 102,375,000 Offering Shares in Japan) and a public offer of 102,375,000 Offering Shares in Singapore at S$1.96 each.

Jeffrey H. Schwartz, GLP’s Deputy Chairman of the Board and Chairman of the Executive Committee said: “I am delighted with the strong response to the Offering from both institutional and retail investors. The quality of our cornerstone investors and institutional investors is an endorsement of GLP’s business model and investment merits. It is rewarding to receive such strong support from both institutions and retail investors, further validating their confidence in the Company and the attractiveness of the logistics sector in Asia’s largest economies.”

Commented Ming Z. Mei, Chief Executive Officer of GLP: “GLP’s listing marks a new and exciting chapter for the Company. With the IPO proceeds raised, we will now focus on executing our expansion and growth strategies to strengthen our position as a market leader in modern logistics facilities in two of Asia’s largest economies, China and Japan. We will also explore opportunities to capitalise on the substantial market opportunities in Asia.”

GLP had also attracted ten cornerstone investors, who have undertaken to subscribe for an aggregate of 588,976,000 shares at the Offering Price (together with the Offering, the “Global Offering”). These cornerstone investors comprise Bosera Asset Management Co., Ltd, the discretionary manager of certain equity portfolio of the National Council for Social Security Fund of the People’s Republic of China, ING Clarion Real Estate Securities, LLC, a U.S. registered investment management firm specializing in the management of equity real estate securities, Lion Global Investors Limited, one of the largest asset management companies in Southeast Asia, CB Richard Ellis Global Real Estate Securities, LLC which manages global property securities on behalf of institutional investors around the world, as well as Alibaba Group Treasury Limited, Chow Tai Fook Nominee Limited, Jovina Investments Limited which is wholly-owned by Lim Eng Hock (also known as Peter Lim), two member companies of the Nan Fung Group and Owl Creek Asset Management L.P.

Excluding the over-allotment option in respect of 234,648,000 shares (the “Over-allotment Option”), GLP’s Global Offering raised gross proceeds of approximately S$3.5 billion. Assuming the Over-allotment Option is fully exercised, the gross proceeds raised from the Global Offering are estimated to be S$3.9 billion.

The total number of issued and outstanding shares immediately following the IPO will be 4,506,689,664 Shares. Its market capitalization, at the Offering Price of S$1.96, will be approximately S$8.8 billion, placing GLP amongst the top 30 largest companies listed on SGX-ST.

Citigroup Global Markets Singapore Pte. Ltd. (“Citi”) and J.P. Morgan (S.E.A.) Limited (“JP Morgan”) are joint global coordinators and joint issue managers. Joint bookrunners and joint underwriters include Citi, JP Morgan, China International Capital Corporation Hong Kong Securities Limited, China International Capital Corporation (Singapore) Pte. Limited, DBS Bank Ltd., and UBS AG, Singapore Branch. Nomura Securities Singapore Pte. Ltd. is the lead manager and joint underwriter while Nomura Securities Co., Ltd. is the POWL coordinator for GLP in Japan.

Trading on a “ready” basis is expected to commence at 9:00 a.m. on Monday, October 18, 2010 subject to the SGX-ST being satisfied that all conditions necessary for the commencement of trading in the shares on a “ready” basis have been fulfilled.