SAIZEN REAL ESTATE INV TRUST: NOTICE OF A DIRECTOR'S (INCLUDING A DIRECTOR WHO IS A SUBSTANTIAL SHAREHOLDER) INTEREST AND CHANGE IN INTEREST

Notice of Interest/Change in Interest
* Asterisks denote mandatory information
Name of Announcer *	SAIZEN REAL ESTATE INV TRUST
Company Registration No.	200712125H
Announcement submitted on behalf of	SAIZEN REAL ESTATE INV TRUST
Announcement is submitted with respect to *	SAIZEN REAL ESTATE INV TRUST
Announcement is submitted by *	Sean Pey, Chang
Designation *	Chief Executive Officer
Date & Time of Broacast	14-Nov-2007 00:03:02
Announcement No.	00001
Price Sensitivity	No

>> Announcement Details

The details of the announcement start here ...

>> Part I
1. Date of notice to issuer *	13/11/2007
2. Name of Director *	Raymond Wong Kin Jeon
3. Please tick one or more appropriate box(es): *
- Notice of a Director's (including a director who is a substantial shareholder) Interest and Change in Interest. [Please complete Part II and IV]

>> Part II
1. Date of change of Interest	09/11/2007
2. Name of Registered Holder	See Footnote below
3. Circumstance(s) giving rise to the interest or change in interest	# Others
# Please specify details	Successful allocation pursuant to the initial public offering of Units of Saizen REIT. Total of 826,000 Units, of which 601,000 Units are held by Raymond Wong Kin Jeon and the remaining 225,000 Units are held by Yvonne Ho Yuk Yee, the wife of Raymond Wong Kin Jeon.
4. Information relating to shares held in the name of the Registered Holder
No. of Shares held before the change	0
As a percentage of issued share capital	0 %
No. of Shares which are subject of this notice	826,000
As a percentage of issued share capital	0.184 %
Amount of consideration (excluding brokerage and stamp duties) per share paid or received	1.00
No. of Shares held after the change	826,000
As a percentage of issued share capital

>> Part III
1. Date of change of [Select Option]
2. The change in the percentage level	From % to %
3. Circumstance(s) giving rise to the interest or change in interest	[Select Option]
# Please specify details
4. A statement of whether the change in the percentage level is the result of a transaction or a series of transactions

>> Part IV
1. Holdings of Director, including direct and deemed interest:
	Direct	Deemed
No. of shares held before the change	0	0
As a percentage of issued share capital	0 %	0 %
No. of shares held after the change	601,000	225,000
As a percentage of issued share capital	0.134 %	0.05 %

Footnotes

Name of Registered Holders: 1. Raymond Wong Kin Jeon; and 2. Yvonne Ho Yuk Yee (wife of Raymond Wong Kin Jeon)