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CapitaCommercial Trust: Receipt Of Eligibility-To-List Letter From The Singapore Exchange

BackMar 13, 2004

Further to the Company's announcement dated 6 February 2004 entitled "The Establishment of CapitaCommercial Trust and the Distribution In Specie of Units in CapitaCommercial Trust to Shareholders" the "Announcement"), the Board of Directors of CapitaLand Limited (the "Company") is pleased to announce that Singapore Exchange Securities Trading Limited (the "SGX-ST") has today issued an eligibility-to-list letter (the "Letter") for the listing and quotation of the units (the "Units") in CapitaCommercial Trust ("CCT") on the Main Board of the SGX-ST by way of an introduction (the "Introduction"). Admission to the Official List of the SGX-ST is not an indication of the merits of the Units, CCT or the Introduction.

In connection with the listing of the Units on the SGX-ST, the Company will be convening an extraordinary general meeting ("EGM") of the shareholders of the Company ("Shareholders") to approve the distribution of approximately 60.0% of the issued Units to Shareholders in proportion to their shareholdings in the Company.

While certain information on CCT and the Introduction has been provided in the Announcement, more detailed information on CCT (including its properties and business, risk factors and distribution policy) will be set out in an introductory document to be issued in connection with the Introduction (the "Introductory Document"). The Introductory Document and a circular to Shareholders (the "Circular") to convene the EGM will be despatched to Shareholders shortly.

In the meantime, Shareholders are advised to refrain from taking any action in relation to their shares in the Company which may be prejudicial to their interests until they or their advisers have considered the information in the Introductory Document and the Circular, as well as the recommendations to be set out in the Circular.