Aberdeen Property Fund Asia ASA

Purpose

The Property Fund's purpose is to give Norwegian investors broad and diversified exposure to the Asian property market. The Property Fund will invest in unlisted active Asian property fund to help investors achieve their investment through broad diversification in terms of different investment strategies, risk profiles, property managers, markets, property types, and lessees.

Return

The Property Fund's mission is to create the highest value-adjusted returns for investors by investing in a market with a strong return potential. The goal is that the Property Fund shall achieve long-term value-adjusted return on equity (IRR) of 12-16% per year after management fees and corporate tax over the property fund's lifetime. The return is not guaranteed. Any payments will be decided annually, and the Property Fund's annual general meeting may, if circumstances so warrant, determine that it in a given year shall not be made any payments.

Property Portfolio

The Property Fund has invested in four underlying funds, a Malaysian development fund, a pan-Asian trading fund, a Japanese health fund and a Chinese trading funds. For more information about the Property Fund's investments, please see the latest quarterly report.

Risk

Investments in property funds involves risk of general, industry-specific and fund-specific character. For further information, please see the prospectus.

Subscription Period

Last subscription period ended 18 March 2008. Shares may be purchased in the secondary market through our distributors.

ISIN number

NO 0010351075