MacarthurCook Industrial REIT - 26th July 2007

MacarthurCook Investment Managers (Asia) Limited (“MCKIM”), the Manager of MacarthurCook Industrial REIT (“MI-REIT”), wishes to announce that 74,932 new units in MI-REIT (“Units”) have been issued to MCKIM on 26 July 2007. The Units were issued at an average issue price of $1.27 per Unit, in payment of 30% of the Base Fee component of the Manager’s management fee for the period from 19 April 2007 to 30 June 2007.

The Base Fee is payable in accordance with the “Trust Deed” as 0.5% per annum of the value of the deposited property. In accordance with the Trust Deed, the issue price was determined based on the volume weighted average traded price for a Unit for all trades completed on the Singapore Exchange Securities Trading Limited, in the ordinary course of trading, for the last 10 business days of the relevant period in which the Base Fee accrues.

In accordance with the IPO Prospectus dated 12 April 2007, the Manager has agreed to receive 30% of the Base Fee in Units as disclosed in the section entitled “The Manager and Corporate Governance – Management Fees” .Following the above issue of Units, the total Units on issue is 260,504,932, of which MCKIM’s holding is 74,932.