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Approval Of The Securities Commission Of Malaysia For The Distribution In Specie Of Units in CapitaCommercial Trust To CapitaLand Shareholders Resident In Malaysia

BackApr 14, 2004

The Board of Directors of CapitaLand Limited (the "Company") refers to its Circular to Shareholders dated 16 March 2004 (the "Circular") in relation to the proposed distribution in specie ("Distribution In Specie") of units in CapitaCommercial Trust ("CCT Units") to the shareholders of the Company ("Shareholders").

As mentioned in the Circular, the distribution of the CCT Units to Shareholders whose registered addresses appearing in the Company's Register of Members or Depository Register (as the case may be) are in Malaysia ("Overseas Shareholders in Malaysia") is subject to the approval of the Securities Commission of Malaysia ("Securities Commission"), and that the Company had made an application to the Securities Commission for such approval.

The Board is pleased to announce that the Company has received the approval of the Securities Commission for the distribution of the CCT Units to Overseas Shareholders in Malaysia, and that such Overseas Shareholders in Malaysia will therefore receive their entitlements to the CCT Units when the Distribution In Specie is effected.

This announcement is not an offer of securities for sale in the United States. Securities may not be sold in the United States unless they are registered or are exempt from registration. The Company does not intend to register any portion of this offering in the United States or to conduct a public offering in the United States. Any public offering of securities to be made in the United States will be made by means of a prospectus that will contain detailed information about the Company and its management, as well as financial statements. Copies of this announcement are not being, and should not be, distributed in or sent into the United States.

It may be unlawful to distribute these materials in certain jurisdictions.

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The information behind this electronic gatepost is only being made available to residents of Singapore.

In particular, the units of CapitaLand Commercial Trust have not been and will not be registered under the U.S. Securities Act of 1933, as amended (the "U.S. Securities Act"), and may not be offered or sold in the United States absent registration or an exemption from the registration requirements of the U.S. Securities Act. The units of CapitaLand Commercial Trust are only being offered outside the United States in reliance on Regulation S under the U.S. Securities Act or otherwise pursuant to an applicable exemption from, or in a transaction not subject to, the registration requirements of the Securities Act and in compliance with any applicable securities laws of any state or other jurisdiction of the U.S.

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