Propbuzz is acquiring PropertyLifestyles business in what is seen as a consolidation of the property portal industry in Singapore. Propbuzz a portal driven by a partnership of key developers and international real estate consultants will takeover PropertyLifestyles business in a deal that is made up of part cash and part shares. PropertyLifestyle will eventually hold a 10 per cent stake in Propbuzzs Singapore entity Propbuzz.com.sg Pte Ltd. The existing shareholders of Propbuzz Holdings Pte Ltd will hold the remaining 90 per cent. "We constantly look out for new partners, new technologies, new ideas that will allow us to provide better services to our users. This acquisition does exactly that for us. Propbuzzs strength in commercial and primary residential listings will be enhanced by PropertyLifestyles focus on the secondary resale market. Together, we will have the largest property listing database in Singapore fully backed by a very comprehensive suite of services aimed at making the agents and agencys work easier," said Mr Martin Tan, Chairman, Propbuzz Holdings.The shareholders have invested $5.5 million to develop the regions premier online property hub. With a firm base in Singapore, Mr Tan said Propbuzz will look at regionalisation at the appropriate time. The new site will be relaunched in mid-July with new products and features to be announced. Its site address will remain as http://www.propbuzz.com.sg/.For further media enquiries, please contact

Ms Teo Lay ChengCorporate Communications Manager CB Richard Ellis (Pte) LtdDID: 326-1252 Email: mailto:lcteo@cbre.com.sgFax: 224 5344

Ms Michelle LeeChief Operating OfficerPropbuzz.com.sg Pte LtdDID: 3777-138Email: mailto:michelle.lee@propbuzz.comFax: 271-8837

Propbuzz Holdings Pts LtdEstablished in April 2000, Propbuzz Holdings Pte Ltd was founded by a consortium of leading international property players comprising pFission (the e-business subsidiary of CapitaLand), CB Richard Ellis, Jones Lang LaSalle, City Developments Limited and MCL Land Limited. This strategic partnership is the first of its kind in Singapore and the first in the region. The strength of this partnership empowers Propbuzz.com to provide the most up-to-date and comprehensive property information and in-depth market analysis from highly respected property powerhouses, both in Singapore and in the region. Launched in November 2000, Propbuzz.com is the only property portal in Singapore to provide detailed profiles of more than 1,000 residential and commercial developments, including photos, site maps and floor plans. It aims to be a one-stop complete resource portal with a wide range of residential and commercial property listings, current property transacted prices, premier research information and an entire host of supporting services in the property transaction chain, easily accessible at the click of a mouse.Propbuzz aims to cater to the total property needs of property professionals, buyers, sellers, landlords and tenants initially in Singapore. Tapping on the international network of the shareholders, the company plans to launch throughout the Asia Pacific region progressively.PropertyLifestyleEstablished in 1995 as Realtools, a leading property information provider, the business moved onto the Internet platform at the end of 1998, with the aim of bringing about a revolutionary change in providing real estate information for everyone. In 1999, eProperty was launched as one of 14 channels on www.vlifestyle.com - the world's first talking portal.In 2000, eProperty of vLifestyle.com Pte Ltd and The Central Property Exchange (also known as "the Exchange") of the Power Purchase Group Pte Ltd merged to form PropertyLifestyle.com Pte Ltd.