CapitaLand Limited ("CapitaLand") wishes to announce that its wholly-owned subsidiary, CapitaLand Ascott Project Management Sdn Bhd, has been appointed by Pulau Indah Ventures Sdn Bhd, a 50:50 joint venture between Khazanah Nasional Berhad and Temasek Holdings (Private) Limited ("Temasek"), to oversee the development of a five-acre site in Medini North, Iskandar, Malaysia (the "Appointment"). The site which will be developed into an "Urban Wellness" project includes a serviced residence component, a wellness centre, a corporate training centre and other wellness-related offerings. The Appointment is not expected to have any material impact on the consolidated net tangible assets or earnings per share of the CapitaLand Group for the financial year ending 31 December 2012. Temasek is the controlling shareholder of CapitaLand and has an interest of approximately 40.41% in CapitaLand. Although the Appointment is an interested person transaction under Chapter 9 of the Listing Manual of the Singapore Exchange Securities Trading Limited, the aggregate value of all transactions (including the Appointment) entered into with Temasek and/or its associates as at the date of this announcement for the current financial year ending 31 December 2012, is less than 3% of the CapitaLand Group's latest audited net tangible assets as at 31 December 2010. Save as disclosed above, none of the Directors or controlling shareholder of CapitaLand has any interest, direct or indirect, in the Appointment.