MWJ Morant

    RNS Number : 1017H
  Morant Wright Japan Inc. Tst. Ltd
  30 October 2008
   

    Morant Wright Japan Income Trust Ltd (the "Company")

    30 October 2008

    The Company announces that it has today unwound part of the swap with JPMorgan Chase Bank, N.A. (the "Bank"). The Company has paid to
the Bank 978,247,500 Yen resulting in a cancellation of 15 per cent. of the swap notional amount. The trade will settle on Tuesday 4
November 2008.  

    Under the swap, in respect of the final repayments, the Company will now receive from the Bank �118.15 million and pay to the Bank
24.480680 billion Yen in November 2010.    

    The Company announced on 28 October 2008 that the asset cover on the swap liability was required to return to above 2.5 times for at
least one of the 15 business days from that date in order that a termination event on the swap was not triggered. The Company confirms that
the cover has returned to above 2.5 times.  

    Enquiries

    Stephen Morant
    Ian Wright
    Morant Wright Management Ltd - 020 7499 9980

    Angus Gordon Lennox
    JPMorgan Cazenove - 020 7588 2828

This information is provided by RNS
The company news service from the London Stock Exchange
 
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