GLP and Canada Pension Plan Investment Board Form Joint Venture to Develop Modern Logistics Facilities in Japan

Singapore/Toronto, Canada (September 1, 2011)– Global Logistic Properties Limited (“GLP”) and the Canada Pension Plan Investment Board (“CPPIB”) today announced that they have formed a joint venture (“Japan Development Fund” or the “Fund”) to develop and hold institutional quality, modern logistics facilities. Each partner will invest US$250 million of equity over a projected three year investment horizon. The targeted leverage is 50% loan-to-value (after stabilization) and the Fund is open-ended with a long-term investment horizon. The Japan Development Fund will focus on building multi-tenant and build-to-suit facilities mainly in the greater Tokyo and Osaka areas in Japan. An attractive site in Tokyo has been identified as the first potential development for the Fund.

GLP is the market leader in modern logistics facilities in China and Japan. CPPIB is a global investment management organization that invests the assets of the Canada Pension Plan and manages a fund that totals C$153.2 billion.

Mr. Jeffrey H. Schwartz, Deputy Chairman and Chairman of the Executive Committee of GLP said: “Developing logistics facilities in Japan is an attractive use of capital and we are extremely pleased to launch our Japan development program. The Fund will be GLP’s exclusive vehicle for logistics development in Japan. We are seeing solid demand for logistics development in Japan driven by our strong customer relationships, solid track record and deep experience. We are delighted to have formed a long-term strategic partnership with CPPIB, a leading global investment manager, which will enable GLP to earn solid returns on its capital while managing risk.”

Graeme Eadie, Senior Vice-President, Real Estate Investments, CPPIB, said: “The Japan Development Fund provides CPPIB an entry into Japan’s logistics facilities market and represents our first direct real estate investment in this country. The growing demand in Japan for modern third party logistics facilities provides an attractive investment opportunity for us. We look forward to partnering alongside GLP who has a proven track record and is aligned with our strategy to develop and hold these assets over the long term.”

M3 Capital Partners (HK) Limited served as exclusive financial advisor to Global Logistic Properties in connection with the formation of the Japan Development Fund.


About Global Logistic Properties (www.glprop.com)

Global Logistic Properties (GLP) is Asia’s largest provider of modern logistics facilities. It owns, manages and leases out 337 completed properties in 127 logistics parks spread across 27 major cities in China and Japan, forming an efficient logistics network with properties strategically located in key logistics hubs, industrial zones and urban distribution centres. By providing flexible solutions of Multi-tenant, Build-to-suit and Sales-and-leaseback, GLP is dedicated to improving the supply chain efficiency for strategic expansion goals of the most dynamic manufacturers, retailers and 3rd party logistics companies in the world. The Group was listed on the Mainboard of Singapore Exchange Securities Trading Limited on 18 October 2010 (Stock code: MC0.SI).

About The Canada Pension Plan Investment Board

The Canada Pension Plan Investment Board (CPPIB) is a professional investment management organization that invests the funds not needed by the Canada Pension Plan to pay current benefits on behalf of 17 million Canadian contributors and beneficiaries. In order to build a diversified portfolio of CPP assets, the CPPIB invests in public equities, private equities, real estate, inflation-linked bonds, infrastructure and fixed income instruments. Headquartered in Toronto, with offices in London and Hong Kong, the CPPIB is governed and managed independently of the Canada Pension Plan and at arm's length from governments. At June 30, 2011, the CPP Fund totaled C$153.2 billion. For more information about CPPIB, please visit www.cppib.ca.

For further information, please contact:
Global Logistic Properties:

Investor Relations & Media Team
Email: investor.relations@glprop.com

Ambika Goel, CFA
SVP- Capital Markets and Investor Relations
Tel: +65 6643 6372
Email: agoel@glprop.com

James Goh, CFA
VP, IR & PR
Tel: +65 6643 6386
Email: jgoh@glprop.com