ABOUT STARHILL REIT

Starhill Real Estate Investment Trust (“Starhill REIT”) is currently Malaysia’s largest real estate investment trust, with a market capitalisation of approximately RM1.10 billion (as at 30 June 2008), and comprises four prime properties situated in the heart of Kuala Lumpur’s Golden Triangle, namely, Starhill Gallery and the adjoining JW Marriott Hotel Kuala Lumpur, 137 parcels and 2 accessory parcels of retail, office, storage and other spaces within Lot 10 Shopping Centre (“Lot 10 Parcels”), and 60 units of serviced apartments, 4 levels of commercial podium and 2 levels of car parks located within The Residences at The Ritz-Carlton, Kuala Lumpur (“The Residences Properties”) (collectively referred to as the “Properties”).

Starhill REIT was established by a trust deed entered into on 18 November 2005 between Pintar Projek Sdn Bhd and Mayban Trustees Berhad, as manager and trustee, respectively, of Starhill REIT.

Listed on 16 December 2005 on the Main Board of Bursa Malaysia Securities Berhad, Starhill REIT’s principal investment strategy is to invest in a diversified portfolio of income-producing real estate, used primarily for retail, office and hospitality purposes, with particular focus on retail and hotel properties. The primary objectives of Starhill REIT are to provide unitholders with stable cash distributions with the potential for sustainable growth, principally from the ownership of properties, and to enhance long-term unit value.

KEY HIGHLIGHTS OF STARHILL REIT'S PROPERTY PORTFOLIO

• Strategic location: The Properties are landmarks in Kuala Lumpur, strategically located in the Jalan Bukit Bintang area which forms part of the city’s Golden Triangle. Jalan Bukit Bintang is one of Kuala Lumpur’s main tourist hubs, popularly known as “Bintang Walk”, and attracts a large number of tourists year-round.

• Convenient access: The Properties are located in an area close to numerous hotels and offices, making them easily accessible to tourists and travelers, as well as office workers. Lot 10 Shopping Centre is also linked by an overhead bridge to another popular shopping centre, Sungei Wang Plaza.

• Strong brand recognition: The Properties enjoy high profile status due to their strong branding, spearheaded by Pintar Projek, and their strategic location in Kuala Lumpur’s prime shopping area.

• High occupancy levels: Both Starhill Gallery and Lot 10 Shopping Centre enjoy high occupancy levels, reflecting the demand for high quality space at a prominent location in Kuala Lumpur’s tourist hub. As at 30 June 2008, Starhill Gallery and the Lot 10 Parcels had occupancy rates of 98.70% and 94.45%, respectively.

• Strong tenant base: The Properties are tenanted by high profile, international brand names and prominent local retailers, as a result of Pintar Projek’s intensive marketing efforts to promote the Properties as well-known and sought-after addresses.

INVESTMENT STRATEGY

Starhill REIT was listed on the Main Board of Bursa Malaysia Securities Berhad on 16 December, 2005 and is an income and growth type fund. The investment objective of Starhill REIT is to own and invest in real estate and real estate-related assets, whether directly or indirectly through the ownership of single-purpose companies whose principal assets comprise real estate.

Starhill REIT currently owns the following properties:-

• Lot 10 Property (137 parcels and 2 accessory parcels of retail, office, storage and other spaces within Lot 10 Shopping Centre);
• Starhill Gallery;
• JW Marriott Hotel Kuala Lumpur; and
• The Residences at The Ritz-Carlton, Kuala Lumpur (60 units of serviced apartments and 7 levels comprising a commercial    podium, facilities deck and basement car parks).

Starhill REIT is managed and administered by Pintar Projek Sdn Bhd, the Manager of the Trust. The Manager's principal investment strategy is to invest in a diversified portfolio of income-producing real estate which is primarily used for retail, office and hospitality purposes, with particular focus on retail and hotel properties. The primary objectives of the Manager are: (a) to provide Unitholders with stable cash distributions with potential for sustainable growth, principally from the ownership of properties; and (b) to enhance long-term Unit value. The Manager uses operating, acquisition, capital management and financing strategies to pursue Starhill REIT's business objectives.

TRUST STRUCTURE