SINGAPORE - Media OutReach- 22 December 2020 - With regard to the selection of SC Capital as thereplacement manager of Eagle Hospitality REIT (EH-REIT), Urban Commons,the Sponsor of Eagle Hospitality Trust (EHT), believes that SC Capital'scurrent proposal will very likely provoke disagreements amongst various interestedparties. This could initiate a chain of reactions and is highly risky forsecurityholders.

Sponsor has provided recommendations and DBSTrustee ignored their proposals to save the REIT. A substantialamount of EHT's cash, approximately $25 million, has been spent on professionalconsultants who are, surprisingly, not collaborating with the Sponsor to find away forward for the benefit of securityholders. The Sponsor believes that allinterested parties should work together to resolve issues for the good of allsecurityholders.

UrbanCommons has the intention to restructure the current REIT manager, tostrengthen management status and cash position. Sponsor to propose a newpartner to the manager, which is subject to MAS approval.

"We hope that DBS Trustee will make the right decisions to protectthe interests of all securityholders. On the other hand, we are working hard toengineer the best deal possible for securityholders,by considering a variety of different options for the REIT. This includes awhole spectrum of possibilities, such as the possible entry of a white knight, aswell as the potential refinancing or a unique recapitalization plan that suitsthis unique scenario," said Howard Wu, Founder and Principal at UC. "Whilesecurityholders may feel they are left with few choices, we believe thatpresenting additional options at our proposed EGM will help them see thepotential for their REIT, as well as our continued commitment to help weatherthe storm."

The issuer is solely responsible for the content of this announcement.

About Urban Commons

Urban Commons is aLos Angeles-based real estate investment and development firm with a successfultrack record of developing, repositioning, and rebranding assets throughout theUnited States. The company focuses on improving under-managed and underutilizedassets by developing innovative solutions that promote optimal economic,social, and environmental returns.

Since its foundingin 2008, Urban Commons has owned, operated and developed a variety of realestate properties including several dozen hotels, apartments, retail, office,and senior care, throughout the United States including the development ofnearly one million square feet of commercial retail space.

For moreinformation on Urban Commons, please visit: https://urban-commons.com/