CapitaLand Limited ("CapitaLand") refers to its announcement made on 24 December 2010 in relation to the financial irregularities of the Malaysian operations of The Ascott Limited ("Ascott"), a wholly owned subsidiary of CapitaLand, and the court action that it commenced in the High Court of Malaya against three employees from the Finance and Accounts Department of the Malaysian operations of Ascott as well as four external parties to recover the sum of RM31.481 million (approximately SGD13.1 million). CapitaLand wishes to report that it has prevailed in its case against the defendants and the High Court of Malaya has entered judgement against all the defendants save for one defendant which has since been wound up and which Ascott is preparing to file its proof of debt. CapitaLand has also terminated the employment of the above employees. The defendants have one month to appeal from the date of judgement.

The above is not expected to have any material impact on the net tangible assets or earnings per share of the CapitaLand Group for the financial year ending 31 December 2012.