LIPPO-MAPLETREE - Lippo Malls Indonesia Retail Trust - Investor ...

Appendix EReport No.017/WPA-Report/2007Page 3.• The methodologies used by Knight Frank/PT. Willson Properti Advisindo in valuing the Properties—theIncome Method utilizing Discounted Cash Flow Analysis and Income Capitalization—are based uponassessment of future results and are not predictions. These valuation methodologies are summarized inthe Valuation Rationale section of this summary report. Each methodology is based on a set ofassumptions as to income and expenses of the relevant Property and future economic conditions in thelocal market. The income and expenses figures are mathematically extended with the adjustments foranticipated changes in economic conditions. The resultant value is considered the best practiceassessment but is not to be construed as a prediction or guarantee and is fully dependent upon theaccuracy of the assumptions as to income, expenses and market conditions.• The Reports were undertaken based upon information available as at 30 June 2007. Knight Frank/PT. Willson Properti Advisindo accepts no responsibility for subsequent changes in information as toincome, expenses or market conditions.We have also relied on the information provided by the owning companies of the Properties on matterssuch as the ownership title particulars, the terms and conditions of BOT (Build, Operate, and Transfer)arrangements and leasehold tenure, details, land areas, building floor areas, building facilities andservices, tenancy list, renovation and/or expansion plans, etc. All information provided to us is treatedas correct and we accept no responsibility for subsequent changes in information and reserve the right tochange our opinion of value if any other information provided were to materially change.E-4Continue to page 4.