Singapore, 29 January 2003 - CapitaLand Commercial Limited (CCL), a wholly-owned subsidiary of listed CapitaLand Limited (CapitaLand), plans to introduce the Electronic Parking System (EPS) to more of its properties in 2003. At present, two of its retail malls, Plaza Singapura and Funan The IT Mall are already using the system. For 2003, eight more properties have been targeted to receive the EPS progressively. They are: Tampines Mall, Junction 8, Capital Tower, Temasek Tower, Six Battery Road, Selegie Complex, and Golden Shoe and Market Street Carparks.

The EPS uses the same technology as the Electronic Road Pricing (ERP) system. At the carpark entrance, the barrier will be automatically raised for vehicles to enter. At the exit point, the system will compute the parking charges based on the duration of parking and debit the value from the cashcard in the vehicles In-vehicle Unit (IU).

Motorists are generally impressed with EPS automatic deduction of parking charges. It provides convenience as it saves them precious time from having to queue up at the Autopay Machine for payment. In addition, the system also provides faster clearance of traffic from the carpark.

The introduction of the EPS to more CCL buildings is spearheaded by the companys Project Development & Management Division. Mr Chen Lian Pang, Managing Director (Project Development & Management) of CCL, said: One of the ways to improve the customer experience in a property is to improve its carpark system, an area that is often overlooked by building owners. Based on the positive response from the shoppers and tenants at Plaza Singapura and Funan The IT Mall, we look forward to introducing EPS to eight more CapitaLand properties.

Two Successful Implementations In 2002

The EPS has already been successfully introduced to Plaza Singapura and Funan The IT Mall last year. Plaza Singapura was the first shopping mall in Singapore to use the full Electronic Parking System. The system went into operation in July 2002 to cater to the shopping malls busy carpark which receives a daily average of 1,500 vehicles on weekdays and 2,300 vehicles on weekends.

To help motorists familiarise themselves with the EPS, signage was put up two weeks prior to its introduction to inform shoppers of the new system. When the system became operational, Building Management staff was on hand to assist and educate motorists at the carpark entrance.

The system has proven to be very robust and is able to handle the heavy carpark traffic at Plaza Singapura and Funan The IT Mall. The introduction of the EPS to Tampines Mall and Junction 8 by the first quarter of 2003 will provide added convenience to shoppers there.

CapitaLand Commercial is the largest manager of office and retail space in Singapore with interests in the gateway cities of London, Shanghai, Hong Kong, Japan and Kuala Lumpur. Its vision is to move beyond building mere concrete structures to create living, vibrant and integrated communities where people love to work, shop and entertain.

In Singapore, the company manages seven prime retail properties : Plaza Singapura and Scotts Shopping Centre along the prime Orchard Road/Scotts Road shopping belt; Junction 8 and Tampines Mall located in densely populated suburban centres; Liang Court, popular with the Japanese community; Clarke Quay, Singapores first festival village by the Singapore River; as well as specialist mall Funan The IT Mall.

CapitaLand Commercial is the commercial property business unit of CapitaLand, one of the largest listed real estate companies in Asia.

CapitaLand is one of the largest listed property companies in Asia. Headquartered in Singapore, the multi-national company has property and property-related services focused in select gateway cities in China, Australia and the UK. The Company's hospitality businesses, in hotels and serviced residences, span more than 50 cities around the world.

Its business interests cover commercial and industrial buildings, residential properties, property funds, real estate financials and property services, besides hotels and serviced residences. CapitaLand also leverages on its significant real estate asset base and market knowledge to develop fee-based products and services.