Portfolio Occupancy

15 July 2011

Japan Residential Investment Company Limited ("the Company")

Portfolio Occupancy

Japan Residential Investment Company Limited (AIM: JRIC) is a closed-ended Guernsey registered company established to make and hold investments in residential property in Japan. The Company, its subsidiaries and entities in which it has a beneficial interest are referred to collectively as "the Fund".

On 30 June 2011, the Fund portfolio occupancy rate was 94.0%, up from 91.6% on the same date one year prior.

Average occupancy for the first seven months of the current financial year increased to 95.3% from 91.2% over the same period one year prior. Average occupancy for the 12 months ended 30 June 2011 increased to 94.8% from 91.4% for the 12 months ended 30 June 2010.

Repair of damages incurred by the Fund portfolio during the Tohoku earthquake which occurred on 11 March 2011 (the "Earthquake") have now been completed at a total cost of JPY2.6 million (GBP20,000).

The Fund property nearest the epicenter, Antler Tachimachi, Sendai achieved 100% occupancy on 7 July 2011, less than four months following the Earthquake. Demand for rental housing in Sendai has increased from displaced persons as well as workers relocating to the area to help with reconstruction.

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