| April 27, 2016
|| IUpdatesIndiabulls Real Estate Limited has informed the Exchange that Grapene Limited ( Offeror ), an indirect wholly-owned subsidiary of Indiabulls Real Estate Limited, has on April 27, 2016 acquired 7,540,300 units in IPIT ( Units ), representing approximately one per cent. of the total number of Units in issue, and as a result of this acquisition, the total number of Units owned, controlled or agreed to be acquired by the Offeror and certain parties acting in concert with the Offeror has increased from 47.51% to 48.51% of the total number of Units in issue. Pursuant to the requirements under the Singapore Code on Take-overs and Mergers, an announcement has been made for and on behalf of the Offeror, in respect of a mandatory conditional cash offer for all the Units in issue other than those already owned, controlled or agreed to be acquired by the Offeror, its related corporations or their respective nominees, at an offer price of S$0.25 in cash for each Unit, on the terms and conditions contained in the Mandatory Conditional Cash Offer Announcement dated April 27,2016 made for and on behalf of the Offeror (the Offer Announcement ). A copy of the Offer Announcement is set out in the Schedule herein and also available on the website of Singapore Exchange Securities Trading Limited at www.sgx.com.