Allco REIT 1st Half 2007 DPU of 2.99c

Key Highlights

􀂃 Amount available for distribution of S$20.85 million for 1H2007
exceeds forecast by 42.1%

􀂃 Net Property Income of S$25.35 million for 1H2007 exceeds
forecast by 28.7%

􀂃 Annualised distribution yield of 5.20% based on unit closing price
of $1.16 as at 26 July 2007

􀂃 Unitholders funds increased by 66.3% during 1H2007

For 1H2007, the total amount available for distribution to Unitholders rose by 42.1% to S$20.85 million against the forecast of S$14.67 million. The increase was attributed to higher rental income growth from the Central Park (Perth) property, additional rental contribution from the 55 Market Street property, and an additional distribution from the Allco Wholesale Property Fund (“AWPF”) arising from the sale proceeds of 222 Exhibition Street(Melbourne). Gross revenue for 1H2007 was $29.75 million, a 30.0% increase in comparison to the forecast of S$22.88 million. Net property income was up 28.7% against the forecast of S$19.70 million. DPU for 1H2007 is 2.99 cents per unit.Following completion of the successful Rights Issue and the 30 June 2007 revaluations, Allco REIT’s market capitalisation has increased to S$806.92 million1. In addition, Allco REIT’s unitholder’s funds have increased to S$963.37 million from S$579.42 million as at 31 December 2006.

Last done price: $1.13 SGD