Portfolio Occupancy

19 October 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".

Portfolio occupancy for the ten months ending 30 September 2011 increased to 95.0% from an average of 91.9% over the same period one year prior. The occupancy rate was 93.9% at the end of September, down from 94.8% on the same date one year prior. The decline follows the cancellation of leases for 12 residential units by the Fund's second largest tenant, a subsidiary of a major Japanese automotive manufacturer. Located in Granduke Suzuka near Nagoya, these units represent 0.5% of the total net leasable area of the Fund. Average occupancy for the 12 months ended 30 September 2011 increased to 95.0% from 91.8% for the 12 months ended 30 September 2010.

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