Singapore, August 23, 2001 - PREMAS International launched today its Training College. Unique to the Property Services industry in the region, the PREMAS Training College is one of the bedrocks of the company's regional thrust and quest for excellence. PREMAS Training College represents a new strength in the company's drive forward. The PREMAS Training College - which was officially launched by Minister- without-portfolio Mr Lim Boon Heng, CapitaLand President and CEO Mr Liew Mun Leong, PREMAS International Chairman Seah Choo Meng and PREMAS International CEO Mr Anthony Seah this morning - has been set up with the aim of transforming human capital to enhance competitiveness, and meet the challenges of the knowledge economy. PREMAS has been actively working on people development for several years, with a Total Company Training Plan in place and systematic on-the-job training programmes. By developing ongoing and targeted programmes,PREMAS Training College will be a steady support of PREMAS' culture of quality, customer service and continuous learning. This is in line with PREMAS International's parent company CapitaLand's belief in developing the best people to deliver the best for its customers. Besides unleashing the potential of employees, training also increases productivity and competitiveness as a skilled and adaptable workforce will enable employers to respond quickly to industry changes. PREMAS International has plans to extend the College's reach beyond the company to suppliers, customers and subsidiaries in Singapore and the region, in order to foster the development of an inter-disciplinary and multi-trade workforce and integrated work environment. The College will also provide opportunities for professionals in the industry to network and exchange experiences through seminars, workshops and conferences. The Training College has also forged partnerships with all the local polytechnics and other institutions of learning to enable it to develop educational methodologies such as "live" e-learning, delivered to the trainees work desk. The creation of an e-learning platform has led to more options for natural live interaction, and it also increases PREMAS Training College's ability to use and review live content.

PREMAS Training College is also in collaboration with iV Lab(Interactive Visual Simulation Laboratory), a subsidiary of ST Training & Simulation Pte Ltd(STTS) to provide simulated training in building defects identification and rectification for property managers. Utilising leading edge 3D computer graphics, the Building Defects Simulator allows property managers to conduct a virtual walkthrough of typical buildings and environment, and spot defects for correction. This morning, PREMAS Training College exchanged a Memorandum of Understanding with the Real Estate Construction Centre(RECC). This MOU signifies mutual support in the realisation of a Clean and Green Built, and the exchanges of experience and future participation in programmes developed under the RECC Skills Redevelopment Programme for Estate Management and Maintenance Industry. The PREMAS Training College also sealed its commitment to the Tripartite Productivity Push programme by signing a Memorandum of Understanding with the National Trade Union Congress. The focus of the programme is to assist organisations in developing and implementing joint union-management productivity programmes using the Singapore Quality Award framework. Background:As the largest property services company in Asia, PREMAS International is moving forward to reshape its industry. The company is actively developing Total Asset Management, Facilities Management, Total Building Performance, and is set to expand regionally.