Hankyu Hanshin REIT, Inc.

Portfolio Information

Occupancy Rate

* This table can be scrolled horizontally.

2nd Dec. 2005 Jan. 2006 Feb. Mar. Apr. May
Total 99.5% 99.3% 98.8% 100.0% 100.0% 100.0%
HEP Five 100.0% 99.0% 99.0% 100.0% 100.0% 100.0%
Kitano Hankyu Building 100.0% 99.7% 99.7% 100.0% 100.0% 100.0%
Dew Hankyu Yamada 100.0% 100.0% 100.0% 100.0% 100.0% 100.0%
Ueroku F Building 91.1% 91.1% 83.9% 100.0% 100.0% 100.0%

* This table can be scrolled horizontally.

1st Jun. 2005 Jul. Aug. Sep. Oct. Nov.
Total 99.8% 99.8% 99.7% 100.0% 100.0% 99.5%
HEP Five 100.0% 100.0% 99.6% 100.0% 100.0% 100.0%
Kitano Hankyu Building 99.4% 99.4% 99.4% 100.0% 100.0% 100.0%
Dew Hankyu Yamada 100.0% 100.0% 100.0% 100.0% 100.0% 100.0%
Ueroku F Building 91.1%

* This table can be scrolled horizontally.

1st Dec. 2004 Jan. 2005 Feb. Mar. Apr. May
Total 97.8% 98.0% 99.5% 99.8%
HEP Five 98.9% 100.0% 100.0% 100.0%
Kitano Hankyu Building 95.5% 95.5% 98.9% 99.4%
Dew Hankyu Yamada 100.0% 100.0% 100.0% 100.0%
Ueroku F Building

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