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<strong>Annual</strong> <strong>Report</strong> <strong>2007</strong><br />
<strong>The</strong> <strong>Link</strong> Real Estate Investment Trust<br />
77<br />
Trustee’s <strong>Report</strong><br />
We hereby confirm that, in our opinion, the Manager of <strong>The</strong> <strong>Link</strong> Real Estate Investment Trust has, in all material respects,<br />
managed <strong>The</strong> <strong>Link</strong> Real Estate Investment Trust in accordance with the provisions of the Trust Deed dated 6 September 2005, as<br />
amended by the First Supplemental Deed dated 4 November 2005, the Second Supplemental Deed dated 8 November 2005, the<br />
Third Supplemental Deed dated 16 January 2006 and the Fourth Supplemental Deed dated 21 November 2006, for thefinancial<br />
year ended 31 March <strong>2007</strong>.<br />
HSBC Institutional Trust Services (Asia) Limited<br />
as the Trustee of <strong>The</strong> <strong>Link</strong> Real Estate Investment Trust<br />
Hong Kong, 8 June <strong>2007</strong>
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