Result Of The Annual General Meeting Of Unitholders

The Board of Directors of Bowsprit Capital Corporation Limited, as Manager of First Real Estate Investment Trust ("First Reit"), is pleased to announce that at the Annual General Meeting ("AGM") of the Unitholders of First Reit held on 22 April 2010, all resolutions set out in the Notice of AGM dated 25 March 2010 were duly passed.

By Order of the Board of Bowsprit Capital Corporation Limited
(As Manager of First Reit)

Dr Ronnie Tan Keh Poo
Chief Executive Officer
22 April 2010