Update Tue, 14 Apr 2009 17:55:00 +1000       3 years, 1 month ago

14 April 2009 The I\/Ianager ASX Lirnited 20 Bridge Street Sydney NSVV 2000 Rubicon Japan Trust (ASX: RJT') — Update VVe refer to the ASX update relating to Rubicon Europe Trust Sroup (ASX: RELI) released today. Rubicon Asset I\/Ianagernent Lirnited (R/\I\/IL) as responsible entity of Rubicon Japan Trust is currently considering the irnplications, if any, that the events referred to in the REL] ASX Release n1ay have on Rubicon Japan Trust. Based on prelirninary investigations, the events affecting REL} are non-recourse to RAIVIL and of itself should not have an adverse in1pact on RAIVIL or RJT except that, should those events lead to RAI\/lL receiving reduced n1anagen‘\ent fees in relation to REL}, this rnay affect RAl\/IL.`s ability to conriply vvith its licensing requirernents and this situation is being closely rnonitored.

Further updates vvill be provided to the ASX in this regard as necessary. RAI\/IL requests that the suspension of the quotation of the stapled units in RJT continue..