Singapore, 11 February, 2004 CapitaLand Residential Limited and ANA Hotels & Resorts Co., Ltd. today announced that the ANA Hotel Singapore will cease all operations with effect from April 2004. The 457-room hotel, located at Nassim Hill, is currently managed by ANA Hotels & Resorts under a management contract with CapitaLand Residential, which owns the hotel and the site. The management contract will not be renewed when it ends on 31 March 2004.Ms Patricia Chia, Deputy CEO of CapitaLand Residential Singapore, said: "We would like to express our sincere thanks to the management and staff of ANA Hotels & Resorts and ANA Hotel Singapore, for their professional and dedicated services, particularly when last year was one of the toughest times faced by the hospitality industry. Moreover, ANA has been a wonderful business partner. On the future plans for the site, we intend to redevelop it into an up-market condominium at the appropriate time."Mr Yasuhiro Nakamura, COO of ANA Hotels & Resorts, said: "We are delighted to work with the owning company and wish to express our profound appreciation to the management and staff of CapitaLand Residential for the excellent working relationship since the change of ownership in 1999. We would also like to take this opportunity to thank all our clients, business associates, and tenants. A special mention goes to our staff for their continued support through the years."Background on ANA Hotel SingaporeANA Hotel Singapore sits on a freehold, 11,386.8 sq m site in Nassim Hill. The hotel, with 457 rooms, was officially opened in January 1979 as Century Park Sheraton Singapore. It was renamed ANA Hotel Singapore in September 1990 to coincide with the launch of All Nippon Airways' services in Singapore. The hotel and its site were acquired by the then-DBS Land in August 1999. DBS Land subsequently merged with Pidemco Land to form CapitaLand Group. The site has been re-zoned for residential use.About ANA Hotels & Resorts Co., Ltd.ANA Hotels & Resorts Co., Ltd. is an international hotel operator and a 100% subsidiary of All Nippon Airways Co., Ltd. Formerly known as ANA Enterprises, LTD., the organisation was established in December 1989 and was renamed ANA Hotels & Resorts Co., Ltd. in June 2003. As of November 2003, the hotel membership network comprises 32 hotels with 9,267 rooms in Japan and 5 hotels with 1,539 rooms in locations outside of Japan.About CapitaLandCapitaLand Residential is the residential arm of CapitaLand Limited, one of the largest listed property companies in Asia. Headquartered in Singapore,CapitaLand is a multinational company with core businesses in property,hospitality, property services and real estate financial services focused ingateway cities in Asia, Australia and Europe.The group's hospitality businesses, in hotels and serviced residences, spanmore than 60 cities around the world. CapitaLand also leverages on itssignificant real estate asset base and market knowledge to develop fee-based products and services in Singapore and the region.