the team

The Team1.1. Meeting Called to Order Meeting Called to Order

2.2. Notice of AGM Notice of AGM

3.3. Minutes of AGM 2008 Minutes of AGM 2008

4.4. Chairman’s Opening RemarksChairman’s Opening Remarks

5.5. Executive Director’s ReportExecutive Director’s Report

6.6. Q&AQ&A

7.7. Audit Opinion (KPMG)Audit Opinion (KPMG)

8. 8. Vote on ResolutionsVote on Resolutions

9.9. AdjournmentAdjournment

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Chairman’s Opening RemarksChairman’s Opening Remarks

State of the companyState of the company

Performance and accomplishmentsPerformance and accomplishments

Opportunities and challenges for theOpportunities and challenges for the futurefuture

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Chairman’s Opening Remarks Chairman’s Opening Remarks

State of the companyState of the company

Investment in quality well leased properties in Jamaica and the US

Focus is on rental income, not development

Key features: 2 properties, total of 42,000 square feet of space; valued at US$4.9 million; potential for capital

appreciation

Quality tenants

Shareholders of KPREIT remain committed3

Chairman’s Opening Remarks Chairman’s Opening Remarks

State of the companyState of the company

Fully transitioned to being revenue generating

Strong balance sheet with limited leverage positions the Company to take advantage of

opportunities for growth

Systems and processes in place to ensure operating efficiencies

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Chairman’s Opening Remarks Chairman’s Opening Remarks

Performance and accomplishmentsPerformance and accomplishments

In 2009, made two dividend payments (June & December) putting the company among the 20 companies that paid dividends in 2009

Full deployment of cash in properties is expected to lead to growing dividends

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Chairman’s Opening Remarks Chairman’s Opening Remarks

Opportunities and challenges for the futureOpportunities and challenges for the future Global recovery which is underway is expected to remain fragile

Analysts forecast values at or near bottom in selected US Markets

Bank of Jamaica estimates growth of 0 – 1% for the local economy for fiscal 2010/11; positive GDP growth in the Sept 2010 quarter, first since Sept 2007 quarter

The company continues to effectively execute its business plan with its singular focus on investing in income producing real estate for the benefit of shareholders

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Executive Director’s ReportExecutive Director’s Report

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Executive Director’s ReportExecutive Director’s Report

Introduction of Team

Performance of Current Properties and Markets Miami Loft II located at 133 NE 2nd Ave Hagley Park Road

Overview of Investments & Operations

Financial Performance

Going forward

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Introduction of TeamIntroduction of Team

Pierre Shirley – Business Development

Tatesha Robinson – Research Analyst Accounting Partner Offices: Miramar, Florida Kingston, Jamaica Atlanta, Georgia

Audit Committee member - Mr. Mitchie Bell

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Miami Loft II – downtown Miami Miami Loft II – downtown Miami Miami, Florida Miami, Florida Club HouseClub House

Roof top swimming Lobbypool

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Views from The Miami Loft II Views from The Miami Loft II

ft II

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About The Miami Loft IIAbout The Miami Loft II

18 units fully rented at market rates; 1 is on the market for rent

Occupied by young professionals

Miami metro rental market is one of the strongest in the US

Rents increased 4% in the first five months of the year

Occupancy rate for Miami was 95.1% in May

Year-to-date sales of condo units rose 33% in June; however, prices not solidly firm yet

Sources: 1) Axiometrics Inc 2) Florida Association of Realtors

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Real Estate Opportunities in Intl MarketsReal Estate Opportunities in Intl Markets

United States The economy is no longer in recession, but the recovery has been weak

Improved outlook in real estate markets

Prospects for more-attractive returns relative to other investment options.

Local Jamaican MarketLocal Jamaican Market - - Hagley Park Property

Waiting areaWaiting area

Front of building 14

Hagley Park PropertyHagley Park Property

100% leased to Diversey, a US based company with operations worldwide

Diversey, Inc. (parent) is a leading global provider of commercial cleaning, sanitation and hygiene solutions for businesses.

The property is approx 26,000 square feet of warehouse & office space in the heart of the auto center of Jamaica

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Overview - Jamaican MarketOverview - Jamaican Market

The contraction in the Jamaican economy has negatively impacted real estate activity

Positive offsets lower interest rates Inflation is trending lower

BOJ forecasts positive GDP growth in Sept 2010 quarter, first since Sept 2007 quarter

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Overview – Investments & OperationsOverview – Investments & Operations

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Overview – InvestmentsOverview – Investments

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Market AnalysisProperty Selection Investment Board ofValuation Analysis Committee DirectorsDeal StructuringTransaction Closure

Market AnalysisMarket Analysis Market reports

Rent comparison

Sales comparison

Capitalization (yields)

Net Operating income trends

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Sample Market Report Market Report Trends and Forecasts for Rents

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Property SelectionProperty Selection

Established properties with track record

Income generating

Hard currency (USD, pounds, euro)

Yield (cap rates) - 9%+

Potential for capital appreciation – 3% annually (USD)

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Property Property Valuation & Analysis

Detailed modeling of cashflows by properties Return analysis

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Property SourcingProperty Sourcing

Network of real estate professionals who help us to spot opportunities

CVR Realty, USA

Marcus & Millichap, USA

Property Consultants Ltd

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Property Property ManagementManagement Data collection andData collection and trackingtracking

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Property ManagementProperty ManagementEfficient rent collection and Efficient rent collection and processing processing

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Property ManagementProperty Management Tenant Screening and SelectionTenant Screening and Selection

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Property Property ManagementManagementControl of repair &Control of repair & maintenance expensesmaintenance expenses

Reputable serviceReputable service partners

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KPREITKPREITThe sourceon real estate

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Financial PerformanceFinancial Performance

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Approx 80% of cash utilized for property purchase at June 30th

Revaluation of J$ in June qtr 2010 hurt results

Modest leverage

-------Year Ended---------6 Mths Ended31-Dec-08 31-Dec-09 30-Jun-10

Cash & cash equivalents 137,992 504,671 251,740 Deposit on Property 26,400 Property under construction 314,363 Investment Property 413,499 Other assets 79 1,712 7,278 Total Assets 452,434 532,783 672,517

Liabilities Current Liabilities 1,837 29,977 180,000 Non Current Liabilities - 4,262 4,375 Shareholders Equity 450,597 498,544 488,142 Total Liabilities & Equity 452,434 532,783 672,517

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Income Statement Income Statement Transitioned to being revenue Transitioned to being revenue generating generating

Still need to get fully investedStill need to get fully invested

G G Give back of approxGive back of approx 16% of FX gains16% of FX gains due to revaluation of J$ due to revaluation of J$

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Profit PerformanceProfit Performance

The numbers primarily reflect The numbers primarily reflect - Interest incomeInterest income- The impact of the movementsThe impact of the movements in the J$ (unrealized FX gains/losses)in the J$ (unrealized FX gains/losses)

Going forward, greater positiveGoing forward, greater positive impact from income from the impact from income from the propertiesproperties

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Stock Price PerformanceStock Price Performance

52-week H/L52-week H/L $6.70$6.70 $3.80$3.80

Reflect lag in profits andReflect lag in profits and dividends relative to peersdividends relative to peers

Looking Forward Looking Forward

We have 2 good deals on our balance sheet We have 2 good deals on our balance sheet

Ferret out other good deals in markets with strong Ferret out other good deals in markets with strong cashflow and good potential for capital appreciationcashflow and good potential for capital appreciation

Explore joint- venture opportunities

Demonstrate Value Creation Processes and disciplines are in place Business strategy is clear and focused

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Corporate Governance & Regulatory Corporate Governance & Regulatory Compliance Compliance

Committed to be at the standards prescribed in the Committed to be at the standards prescribed in the PSOJ’s Corporate Governance codePSOJ’s Corporate Governance code

Corporate disclosureCorporate disclosure Investor RelationsInvestor Relations Social responsibilitySocial responsibility Board composition, function & structure Board composition, function & structure

The JSE has stepped up its compliance procedures for The JSE has stepped up its compliance procedures for listed companieslisted companies

More aggressive fines and penalties for More aggressive fines and penalties for violationsviolations

Continuing the process of building-out the various Continuing the process of building-out the various pillars pillars

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Thank YouThank YouCLOSE OF MEETING

Please join the Directors & Management for refreshments

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