Notice Of A Change In The Percentage Level Of A Substantial Shareholder's Interest

BackNov 25, 2008
Part I
1. Date of notice to issuer 21/11/2008
2. Name of Substantial Shareholder Sheldon F. Kasowitz
3. Notice Type Notice of a Change in the Percentage Level of a Substantial Shareholder's Interest or Cessation of Interest.
Part II - Not Required
Part III
1. Date of change of Interest 19/11/2008
2. The change in the percentage level From 5.01 % To 4.81 %
3. Circumstance(s) giving rise to the interest or change in interest # Others

Sale of 0.19% of MacarthurCook Industrial REIT's units, resulting in an aggregate interest of 4.81% held by Indus Asia Pacific Master Fund, Ltd and Indus Pacific Smaller Companies Master Fund, Ltd, which are managed by Indus Capital Parters, LLC.
Sheldon F. Kasowitz owns more than 20% of the voting interest of Indus Capital Partners, LLC.
4. A statement of whether the change in the percentage level is the result of a transaction or a series of transactions: A series of transactions.
Part IV
1. Holdings of Substantial Shareholder, including direct and deemed interest :
 
  Direct Deemed
No. of shares held before the change 0 13,074,000
As a percentage of issued share capital 0 % 5.01 %
No. of shares held after the change 0 12,574,000
As a percentage of issued share capital 0 % 4.81 %

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