As an investor of a fund that invests into a wide range of REITs and listed property securities around the world, you will benefit from the opportunities offered by markets at different economic cycles, levels of development and sophistication.

First State Global Property Investments intends to make annual distributions of 4% of NAV per annum on 30 Nov each year. The first distribution will be paid on 30 Nov 2006.

# The ratings are provided for general information only and should not be used as a basis for making any specific investment, business or commercial decision. The ratings are for use in Singapore only and have not been customised for any specific person or any particular class of persons. You should at all times consult your professional advisers and obtain independent verification of the information and data provided on MercerFundWatch.com before making any decision based on any such information or data. Opinions on or ratings of investment products contained in MercerFundWatch.com are not intended to convey any guarantees by Mercer as to the future investment performance of these products.

* The distribution will be made from the income, capital gains and/or capital of the Fund. They are not guaranteed by the First State Investments (Singapore) or any of our Distributors. For full details of the distribution, please read the Prospectus. The Manager has the sole discretion to determine whether a distribution is to be made as well as the rate and frequency of the distributions.

Any opinion, view or estimate presented is subject to change without notice and is made on a general basis and is not to be relied on by you as advice. OCBC Bank and First State Investments do not warrant the adequacy or completeness of such information. You should note that there are necessarily limitations and difficulties in using any graph, chart, formula or other devices to determine whether or not, or if so, when to, make an investment in the Fund. You may wish to seek advice from a financial adviser before purchasing units of the Fund. Accordingly, no warranty whatsoever is given and no liability whatsoever is accepted for any loss arising whether directly or indirectly as a result of you acting on this information. In the event that you choose not to seek advice from a financial adviser, you should consider whether the Fund in question is suitable for you. Any past performance, projection or forecast made are not necessarily indicative of the future or likely performance of the Fund. The value of units and the income from them, if any, may fall as well as rise. All applications for units in the Fund must be made on application forms accompanying the prospectus. You should read the prospectus, obtainable from OCBC Bank or First State Investments, before investing. The Fund is not an obligation of, deposits in, or guaranteed by OCBC Bank or First State Investments or any of their affiliates. The Fund is subject to investment risks, including the possible loss of principal amount invested. This brochure does not take into consideration the tax implications of the income earned as each person’s tax position is different. You are advised to seek independent tax advice on your personal tax position arising from investing in the Fund. Units are not available to US persons.