Unique growth model

Strong organic growth potential

• Medium-term leases with favourable escalation potential from Operating Buildings of 3.6 million sq ft Owned SBA* • Completing Buildings of 1.1 million sq ft SBA* • High tenant retention rates • Tenants with good credit standing

Property Income (S$ millions) Forecast Year 2008 1 Apr 07 - 31 Mar 08 Projection Year 2009 1 Apr 08 - 31 Mar 09 Occupancy1 As at 31 Mar 07 Forecast Year 2008 Forecast Year 2009 Operating 95% 96% 96% Operating & Completing 95% 90% 96% 1 Weighted average for the Properties based on SBA. Figure for 31 Mar 07 is in relation to Committed Leases.   Net Property Income (S$ millions) Forecast Year 2008 1 Apr 07 - 31 Mar 08 Projection Year 2009 1 Apr 08 - 31 Mar 09

"In-built" development pipeline

• Strong development pipeline of up to 4.2 million sq ft comprising:   - 1.5 million sq ft SBA* of upcoming Proposed Developments - 2.7 million sq ft SBA* or 24 acres of Land Available for Development

External acquisitions

• Right of first refusal (ROFR) from Ascendas which owns the CyberVale IT park in Chennai • ROFR from Ascendas India Development Trust which has a targeted investment value of S$1 billion and currently includes approximately 100 acres of land in Pune and Nagpur and other investments in the pipeline • Potential third party acquisitions of business space properties across India

REIT-like characteristics enhance stability of distributions...

• Commitment to distribute 100% of Distributable Income from Listing Date to 31 March 2009 and at least 90% thereafter • Adherence to safeguarding provisions on allowable investments under Property Fund Guidelines • Gearing limited to 35% of deposited property or 60% if credit rating is obtained • Distributions are exempt from Singapore income tax

.... But retains upside potential from development activities with 20% development limit

*Super Built-Up Area

Significant distribution growth

• Expected 22% growth of a-iTrust’s distribution per unit DPU (cents) Estimates at Offering Price S$1.18 Forecast Year 2008 1 Apr 07 - 31 Mar 08 Projection Year 2009 1 Apr 08 - 31 Mar 09

• Increase in Forecast and Projected Distribution Yield Forecast and Projected Distribution Yield2 Forecast Year 2008 1 Apr 07 - 31 Mar 08 Projection Year 2009 1 Apr 08 - 31 Mar 09 2 Offering Price of S$1.18 per Unit.

• Distributions made by a-iTrust exempt from Singapore income tax in the hands of all Unitholders

Portfolio of high quality investment properties in India

• Attractive and relatively safe opportunity to gain exposure to high-growth industry sectors and cities • Geographically diversified in the key high-growth IT and ITES centres of Bangalore, Chennai and Hyderabad

India’s IT and ITES Revenue Break-Up by Location Source: STPI, 2006

• High quality and professionally-managed Properties with comprehensive ancillary facilities and services to benefit tenants • Substantially locked-in medium-term leases (with high security deposits) provide rental income stability • High committed occupancy rates and leased to diverse and good quality tenants

Tenant Trade Sectors of the Portfolio (by Base Rent) as at 31 March 2007

Optimum capital structure

• Modest gearing of 4.1% as at Listing Date increasing to 18.9% assuming full draw down of Trust Loan Facilities • Conservative capital structure enhances future financing flexibility for development projects and acquisitions

Exposure to fast-growing Indian economy

• World's second fastest growing major economy which is forecast to grow between 7% and 9% per annum over the next few years • Regulated financial environment, stable political outlook, growing foreign exchange reserves and young demographic profile contribute to sustainable growth

Rising demand for business space across key IT centres

• India is the world leader and centre for IT and ITES outsourcing with a 55% to 60% global market share • Strong demand from IT and ITES companies for business space to accommodate expansion plans expected to benefit major IT centres in India including Bangalore, Chennai and Hyderabad