UNITED URBAN INVESTMENT : Notice Concerning Acquisition of “Green Star” Rating in the GRESB Survey

For Translation Purposes Only

September 11, 2017

For Immediate Release

United Urban Investment Corporation

Ikuo Yoshida Executive Officer (Securities Code: 8960)

Asset Management Company: Japan REIT Advisors Co., Ltd.

Ikuo Yoshida President and CEO

Inquiries: Kenichi Natsume Chief Financial Officer TEL: [phone]

Notice Concerning Acquisition of "Green Star" Rating in the GRESB Survey

United Urban Investment Corporation ("United Urban") hereby announces that it was granted the "Green Star" rating in the GRESB Survey held this year as set forth below.

1. Overview of the GRESB Survey

   The Global Real Estate Benchmark ("GRESB") Survey is an annual assessment regarding the sustainability performance of the real estate sector with respect to environmental, social, governance (ESG) issues. It was founded in 2009 by a group of leading European pension funds who took initiative in establishment of "Principles for Responsible Investment" advocated by the United Nations as the core group. The GRESB benchmark is currently used by approximately 60 institutional investors (the total AUM: USD 17 trillion) for their investment decisions and interlocutions with the entities they invest in. Development Bank of Japan Inc. (DBJ) is currently one of such the investor members. Association of Real Estate Securitization (ARES) and the Japan Sustainable Building Consortium (JSBC) have been backing and promoting the GRESB as its official supporters.

2. "Green Star" Rating Granted to United Urban.

   The "Green Star" rating which is the highest status among the 4 available categories was granted to United Urban this year in three consecutive years. It is granted to entities which have exhibited excellence in both dimensions of "Management and Policy" and "Implementation and Measurement."

   Since the establishment of its Environmental Policies in May 2012, United Urban has taken various initiatives on ESG issues. The consecutive grant of "Green Star" rating to us is thought to be the consequence of our continuous efforts for ESG issues. Please refer to the following website for details of the approaches to environmental issues by United Urban.

   http://www.united-reit.co.jp/en/feature/environment.html

3. Future Measures

United Urban will continue to implement its initiatives on the ESG issues in the future.