June 1, 2018 Acknowledgement for the Current Situation on Group Lease PCL (Continuous Disclosure)

June 1, 2018

Company Name: JTRUST ASIA PTE.LTD.
Representative: Nobuyoshi Fujisawa, Managing Director, CEO
Contact: Shigeyoshi Asano, Director
Telephone: +65-6535-5152

Acknowledgement for the Current Situation on Group Lease PCL
(Continuous Disclosure)

J Trust Co., Ltd., the parent of JTRUST ASIA PTE. LTD., published a press release “Acknowledgement for the Current Situation on Group Lease PCL (Continuous Disclosure)”. Please refer to the attachment.

June 1, 2018

Company Name: J Trust Co., Ltd.
(Listed on Second Section of the Tokyo Stock Exchange, code 8508)
Representative: Nobuyoshi Fujisawa, President & CEO
Contact: Taiji Hitachi, Director and Executive Officer
Telephone: +81(3) 4330-9100

Acknowledgement for the Current Situation on Group Lease PCL
(Continuous Disclosure)

J Trust Co., Ltd. (hereinafter, “the Company”) announced its acknowledgement for the current situation regarding Group Lease PCL (hereinafter, “GL”) and our view on the future direction in the previous releases. The Company would like to make further announcement on the subsequent events as follows.

In Singapore, JTRUST ASIA PTE. LTD. (hereinafter, “JTA”) filed an appeal against the decision of the High Court setting aside the injunction order that JTA had previously obtained against Group Lease Holdings Pte Ltd, Mr. Mitsuji Konoshita and Cougar Pacific Pte Ltd. Today, the Court of Appeal reinstated the domestic Mareva injunction and expanded the domestic Mareva injunctions against Group Lease Holdings Pte Ltd. and Cougar Pacific Pte Ltd on a worldwide basis. The Court also reinstated the domestic Mareva injunction against Mr. Mitsuji Konoshita. Presently there is a worldwide Mareva injunction against Mr. Mitsuji Konoshita obtained from the Court in the British Virgin Islands.

JTA has also pursued and will vigorously pursue the action to claim for damages against Group Lease Holdings Pte. Ltd., the subsidiary of GL incorporated in Singapore, Mr. Mitsuji Konoshita, Cougar Pacific Pte Ltd as well as Aref Holdings Limited, Adalene Limited, Bellaven Limited, and Baguera Limited (all of which are incorporated in Cyprus)1, which is pending.

The Company is fully committed to maximizing the value of the Company and the interests of stakeholders with taking advantages of its expertise and experiences.

We will make further disclosure as soon as any further development occurs.

-End-


1Mr. Mitsuji Konoshita, Cougar Pacific Pte Ltd and the 4 Cyprus companies have all been accused by Thai Securities and Exchange Commission for the involvement in the fraudulent transactions.

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