Posting of Annual Report

10 May 2011

Japan Residential Investment Company Limited ("the Company")

Posting of Annual Report

Japan Residential Investment Company Limited (AIM: JRIC) is a closed-ended Guernsey registered company established to make and hold investments in residential property in Japan. The Company advises shareholders that the Annual Report & Accounts of the Company for the year ended 30 November 2010 have been posted to shareholders and will be available on the Company's website at www.jricl.com.

The Annual Report & Accounts includes a notice of the Annual General Meeting of the Company ("AGM") to be held at the registered office of the Company, Sarnia House, Le Truchot, St Peter Port, Guernsey, GY1 4NA on 24 May 2011 at 10:00am.

Shareholders will be required to vote on all the resolutions to be proposed at the AGM. These resolutions are set out below:

Ordinary Business

1. To receive and adopt the Financial Statements and Directors' Report for the year ended 30 November 2010

2. To re-elect Mr Gregory Shenkman as a director of the Company

3. To elect Mr Richard Crowder as a director of the Company

4. To re-appoint Pricewaterhouse Coopers CI LLP as auditors of the Company

5. To authorise the directors to fix the remuneration of the Company's auditors

Special Business

Special Resolution

6. That the Company generally be, and is hereby, authorised for the purposes of Section 315 of The Companies (Guernsey) Law, 2008 (the "Law") to make market purchases (as defined in the Law) of shares in the issued share capital of the Company provided that:

(i) without prejudice to Article 6 of the articles of incorporation of the Company the maximum number of shares hereby authorised to be acquired shall be 15% of the Company's issued share capital on 20 April 2011;

(ii) the minimum price (exclusive of expenses) which may be paid for a share is £0.10 per share;

(iii) the maximum price (exclusive of expenses) which may be paid for a share shall be 5% above the average of the middle market quotations taken from the AIM appendix to the London Stock Exchange Daily Official List on each of the five business days before the purchase is made;

(iv) the authority hereby conferred shall (unless previously varied, revoked or renewed by an ordinary resolution of the shareholders) expire at the earlier of the end of the Company's next annual general meeting or in eighteen (18) months after the date of passing of this resolution 6;

(v) the Company may make a contract to purchase its own shares under the authority hereby conferred prior to the expiry of such authority which will or may be executed wholly or partly after the expiry of such authority, and may make a purchase of its own shares in pursuance of any such contract; and

(vi) the purchase price may be paid by the Company to the fullest extent permitted by the Law.

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