Net Asset Value(s)

16 April 2010

Japan Residential Investment Company Limited ("JRIC" or "the Company")

Net Asset Value of the Company

Japan Residential Investment Company Limited (AIM: JRIC), the closed-ended Guernsey registered company established to make and hold investments in residential property in Japan, announces that the Net Asset Value for the Company as of 28 February 2010 was 91.2 pence per share (JPY 123.7 per share) compared to 93.0 pence per share (JPY 133.1 per share) as at 30 November 2009. This NAV reflects a 3.4% decline in the yen value of the underlying properties since 30 November 2009, an 11.1% decline y-o-y, and a 17.3% decline from initial purchase price.

The Net Asset Value in Sterling is determined using the Yen:Sterling exchange rate of JPY 135.6, which was the prevailing rate as at 28 February 2010 (30 November 2009: JPY 143.1).

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