Hankyu REIT, Inc.

	Total		HEP Five (Hankyu Five Building)
	Kitano Hankyu Building		Dew Hankyu Yamada (Yamada Nishi Hankyu Bldg.)
	Ueroku F Building		NU chayamachi

4th	Dec	Jan	Feb	Mar	Apr	May
Total	99.4%	98.2%	98.6%	98.6%	98.5%	98.5%
HEP Five (Hankyu Five Building)	100.0%	100.0%	100.0%	100.0%	100.0%	100.0%
Kitano Hankyu Building	97.9%	97.9%	100.0%	100.0%	99.4%	99.4%
Dew Hankyu Yamada (Yamada Nishi Hankyu Bldg.)	100.0%	100.0%	100.0%	100.0%	100.0%	100.0%
Ueroku F Building	95.2%	66.5%	66.5%	66.5%	66.5%	66.5%
NU chayamachi				99.2%	99.2%	99.2%

3rd	Jun	Jul	Aug	Sep	Oct	Nov
Total	99.5%	99.4%	99.3%	99.3%	99.3%	99.3%
HEP Five (Hankyu Five Building)	100.0%	100.0%	99.8%	99.8%	100.0%	100.0%
Kitano Hankyu Building	97.9%	97.1%	97.1%	97.1%	97.1%	97.1%
Dew Hankyu Yamada (Yamada Nishi Hankyu Bldg.)	100.0%	100.0%	100.0%	100.0%	100.0%	100.0%
Ueroku F Building	100.0%	100.0%	100.0%	100.0%	95.2%	95.2%
NU chayamachi