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Appointment Of Chief Executive Officer

BackSep 30, 2004

The Board of Directors of CapitaCommercial Trust Management Limited (the "Company"), an indirect wholly-owned subsidiary of CapitaLand Limited ("CL") and the manager of CapitaCommercial Trust, wishes to announce the appointment of Mr. Martin Tan Toh Tee as the Chief Executive Officer ("CEO") and a Director of the Company with effect from 1 October 2004. Ms Ang Siew Yan will be concurrently Deputy CEO and Finance Manager of the Company. The present CEO of the Company, Mr. Soong Hee Sang will join CapitaLand Residential Limited ("CRL"), another wholly-owned subsidiary of CL, as the CEO of CapitaLand Residential (New Markets).

The Board of Directors would like to record its appreciation to Mr. Soong Hee Sang for his contribution to the Company and the listing of CapitaCommercial Trust during his appointment term. The Board wishes him well in his new appointment in CRL.

By Order of the Board
CapitaCommercial Trust Management Limited
(as manager of CapitaCommercial Trust)

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