Global Offering

	Spring Real Estate Investment Trust (01426)

Cover Important Expected Timetable Contents Key Investment Information Offering Circular Summary The Global Offering Information about this Offering Circular and the Global Offering Parties Involved in the Global Offering Risk Factors Use of Proceeds Ownership of and Interest in Units Distribution Policy Investment Highlights Strategy The Property and Business Financial Information and Forecasts Selected Financial Information Management's Discussion and Analysis of Financial Condition and Results of Operations Management's Discussion and Analysis of Future Financial Condition and Results of Operations Profit Forecast Statement of Distributions Unaudited Pro Forma Statement of Financial Position Industry Overview Structure, Management and Agreements Reorganization, Structure and Organization of Spring REIT The REIT Manager The Property Manager and the Building Manager Information about RCA Fund Corporate Governance The Trust Deed and Related Matters Material Agreements and Other Documents Relating to Spring REIT Connected Party Transactions Modifications, Waivers and Licensing Conditions Other Information Taxation Underwriting Structure of the Global Offering Experts How to Apply for Hong Kong Public Offering Units Definitions Technical Terms General Terms Appendix I - Accountant's Report Appendix II - Unaudited Pro Forma Statements of Financial Position of Spring REIT Appendix III - Letters in Relation to the Profit Forecast Appendix IV - Independent Property Valuer's Valuation Report Appendix V - Letter from the Property Consultant in Relation to its Building Condition Survey Summary Report Appendix VI - Overview of the Relevant Laws and Regulations in the PRC and Comparison of Certain Aspects of its Property Laws and the Laws of Hong Kong Appendix VII - General Information Back Cover