When disclosing important information such as its decisions, the occurrence of events or information concerning settlement of accounts, etc. which may have an impact on investment decisions made by Unitholders, etc.(*), Nippon Building Fund, Inc. ("NBF") will disclose such information to Unitholders, etc. in accordance with laws and regulations such as the Financial Instruments and Exchange Act, regulations of the Investment Trusts Association and of the Tokyo Stock Exchange, etc. (hereinafter collectively "Timely Disclosure Regulations").

　In addition, NBF's basic policy on information disclosure is to further endeavor to fairly, and promptly, disclose even broader information not subject to Timely Disclosure Regulations to Unitholders, etc.
(*) "Unitholders, etc." means NBF's unitholders, creditors and information providers such as securites analysts, etc.

・ NBF will properly disclose information in accordance with rules and forms, etc. required by the Investment Trust Act, the Financial Instruments and Exchange Act, the Tokyo Stock Exchange, and the Investment Trusts Association, etc.
・ NBF will continuously endeavor to develop systems and environments where accurate and unbiased information will be conveyed without delay to Unitholders, etc.
・ NBF will endeavor to provide Unitholders, etc. with timely information which is easy to understand and not misleading.
・ NBF will actively promote the provision of information to be voluntarily disclosed for the purpose of enhancing social recognition of real estate investment trusts and for the benefit of investment decisions made by Unitholders, etc.
Disclosure of information subject to Timely Disclosure Regulations will be published through the Company Announcements Distribution Service operated by the Tokyo Stock Exchange (TD-NET) and the electronic disclosure system operated by the Financial Service Agency (EDINET) in accordance with said Regulations.

　In addition, information not subject to said Regulations but deemed important for investment decisions will also be promptly disclosed through NBF's website, etc.

　To prevent leakage of financial information and ensure fair disclosure, by designating the period from the day immediately following the accounting date to the date of announcement of its financial results as the "quiet period," NBF will refrain from commenting on or responding to queries, etc. concerning its financial results. Notwithstanding the above, if NBF becomes aware of a major discrepancy between its performance forecast and its actual results during the quiet period, it will officially announce the same in accordance with Timely Disclosure Regulations. NBF will also respond to queries, etc. concerning previously disclosed information even during the quiet period.