CapitaLand’s Board of Directors proposed a first and final dividend of 7.00 cents per share (of which up to 3.97 cents per share will be franked dividend, less tax at 18% and the balance will be one-tier dividend) and a special one-tier dividend of 5.00 cents per share, amounting to a net dividend of S$313,638,175 based on the number of issued shares as at 31 December 2006. The franked dividend of 3.97 cents per share is estimated based on the number of issued shares as at 31 December 2006 as well as the availability of Section 44 credit balance, which is subject to finalisation by the Inland Revenue Authority of Singapore. The exact composition between the franked and one-tier dividend is dependent on the finalised Section 44 credit balance and the number of issued shares of the Company as at the Books Closure Date. The dividends are subject to the shareholders’ approval at the forthcoming Annual General Meeting of the Company.

For the previous financial year 2005, a first and final dividend of 6.00 cents per share and a special dividend of 12.00 cents per share, less tax at 20% was approved and paid. The said dividend of S$399,088,787 was paid in May 2006.