INDIABULLS REAL ESTATE LTD. - Updates

Sub: Voluntary unconditional cash offer announcement for acquisition of all units in Indiabulls Properties Investment Trust, a SGX-ST listed business trust ('IPIT') by Brenformexa Limited ('the Offeror'), a wholly-owned subsidiary of Indiabulls Real Estate Limited ('the Company')<BR> <BR> <BR> We wish to inform, that the Offeror has announced that it intends to make a voluntary unconditional cash offer ('Offer') for all of the issued units in IPIT ('Units'), other than those already owned and controlled by its related corporations or their respective nominees, at the offer price of S$ 0.90 per unit in IPIT ('Offer Price') ('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.<BR> <BR> For details please refer the attachment.<BR>