ARA Asset Management Limited : ARA makes inroads into South Korea with the acquisition of Macquarie Real Estate Korea Limited

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Announcement Title * PRESS RELEASE - ARA MAKES INROADS INTO SOUTH KOREA WITH THE ACQUISITION OF MACQUARIE REAL ESTATE KOREA LIMITED

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PressRelease-Acq_SouthKoreaREIT_management_platform-23122013.pdf

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MREK is a real estate management company based in Seoul, South Korea that manages two privately held Korean Real Estate Investment Trusts ("K-REITs") with combined Assets under Management ("AUM") of KRW 588.4 billion (approximately US$554.1 million1).

As part of the transaction, ARA will also acquire a 10.02% equity interest in one of the K-REITs, co-investing alongside one of Korea's largest pension funds, of whom is also the sole investor in the second K-REIT.

ARA Group CEO Mr. John Lim commented: "As we expand our geographical footprint, the acquisition of this platform adds to ARA's current REITs platform and bolsters ARA's REIT management presence in the Asia Pacific region. In addition to Singapore, Hong Kong, Malaysia and China, this acquisition has allowed ARA to gain a foothold in South Korea, enabling the Group to capitalize on the tremendous real estate opportunities in Asia's fourth largest economy by GDP."

Mr. Lim added: "With an impeccable track record and strong management team, we are confident that ARA will continue to scale greater heights with the continued expansion of our suite of funds and services."

ARA's assets under management as at 30 September 2013 was S$23.4 billion, achieved on the back of the continued growth of ARA's private funds and REITs platforms.

1 Based exchange rate of 1USD: KRW1,062 (as at 20 December 2013)

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ARA, an affiliate of the Cheung Kong group, is a real estate fund management company listed on the main board of the Singapore Exchange. ARA's business is focused on the following primary segments:
(a) REITs - The Group is one of the largest REIT managers in Asia ex-Japan and currently manages six REITs listed in three countries namely, Fortune REIT dual-listed in Singapore and Hong Kong, Suntec REIT and Cache Logistics Trust listed in Singapore, Hui Xian REIT and Prosperity REIT listed in Hong Kong and AmFIRST REIT listed in Malaysia;
(b) Private real estate funds - The Group manages several private funds investing in real estate in Asia;
(c) Real estate management services - The Group provides property management services and manages the award-winning Suntec Singapore International Convention & Exhibition Centre; and
(d) Corporate finance advisory services - The Group has an in-house advisory arm providing corporate finance advisory services to related corporations.
For more information, please contact: Cheryl Seow
Senior Director, Group Finance cherylseow@ara.com.hk
Tel: (65) 6835 9232

Fax: (65) 6835 9672
This announcement may contain forward-looking statements that involve risks and uncertainties. Actual future performance, outcomes and results may differ materially from those expressed in forward-looking statements as a result of a number of uncertainties, risks and assumptions. Representative examples of these factors include but are not limited to general market and economic conditions, interest rate trends, competition from other real estate investors, changes in operating expenses including employee wages and benefits, changes in government policies, and the continued availability of financing in the amounts and terms necessary to support future business. You are cautioned not to place undue reliance on any of the forward-looking statements in this announcement, which are based on the current view of management on future events.

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