IOF Park Tower sale terms agreed and June 2010 valuations

IOF advises that it has agreed terms and entered into a conditional sale agreement (together with its 50% joint venture partner) to sell 2980 Fairview Park Drive, Falls Church, Virginia to Northrop Grumman Corporation who will use the building as their new corporate office. IOF today also announces a 0.5% uplift in portfolio values as a result of the 30 June 2010 property valuations of 25 assets globally.

Click on the attachment for full ASX announcement.