Kenedix Announces Establishment of a Commitment Line

JCN Newswires, Oct 3, 2006

Tokyo, Japan, Oct 3, 2006 - (JCN Newswire) - Kenedix, Inc. (TSE1: 4321), a leading real estate financial advisor and asset manager, has announced the establishment on September 29, 2006, of a 44 billion yen commitment line with syndicated banks headed by Sumitomo Mitsui Banking Corporation as the arranger.

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1. Value           JPY 44 billion

2. Contract term   September 29, 2006 - September 28, 2007

3. Purpose         To acquire real estate properties
                   (The fund will be used to acquire investments on
                   proprietary account prior to allocating them to
                   private funds and REITs.

4. Arranger        Sumitomo Mitsui Banking Corporation

5. Agent           Sumitomo Mitsui Banking Corporation

6. Participating
   financial
   institutions    Total 37 institutions

7. Terms           The commitment line is available for unspecified
                   properties and gives flexibility for Kenedix to
                   acquire properties in a timely manner.

                   Kenedix has been successfully increasing it's AUM,
                   including recent creation of the 8th fund for
                   corporate pension funds and other investors and
                   continuous acquisition by the two REITs of properties.

                   Under these circumstances, Kenedix requires sufficient
                   debt financing for further acquisition of properties
                   for private funds and the two REITs.

                   The commitment line realizes a tremendous increase of
                   the borrowing limit compared with the previous one at
                   31.9 billion yen, and enables Kenedix to acquire a
                   larger size of properties.

                   The commitment line is also available for acquisition
                   of the fee simple ("shoyuu-ken") on properties in
                   addition to the trust beneficiary right
                   ("shintaku-jueki-ken") only that the previous
                   facilities could be used for.
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About Kenedix, Inc.

Kenedix, founded in April 1995, initially introduced and promoted real estate auctions to Japanese investors and financial institutions. Today, the Kenedix Group is an organization advanced in a broad range of real estate services and finance. The Group's overall goal is to maximize returns on investments, accomplished by leveraging the Group's comprehensive research skills and extensive knowledge of the real estate business to accurately analyze and evaluate trends in a constantly changing market. Kenedix is working to become one of Japan's most prominent real estate asset managers, while building a highly stable and profitable corporate group. For more information, please visit www.kenedix.com.

Source: Kenedix, Inc.

Contact:

Kenedix, Inc.
Taiji Yoshikawa
Chief Financial Officer
 81-3-3519-2530

Copyright [c] 2006 JCN Newswire. All rights reserved. A division of Japan Corporate News Network K.K.