Singapore, 17 March 2003 - In line with the repositioning of Plaza Singapura, CapitaLand has reached a mutually amicable arrangement with NTUC Fairprice for Liberty Market to leave the mall in April 2003. Negotiations with several prospects are expected to be finalised soon for the vacated space at Basement 2.

The opening of the new Dhoby Ghaut interchange next to Plaza Singapura as well as the presence of new anchor tenants, Carrefour and Best Denki, will draw increased shopper traffic and strengthen the malls positioning as a lifestyle and family centre in Orchard Road.

Plaza Singapuras tenant mix has recently been revitalised in view of the expected increase in traffic when the new Dhoby Ghaut MRT interchange opens. Basement 2 of the mall will enjoy a direct link to the new giant interchange which is targeted to open in April 2003. This will be the largest station in the MRT network as it is the node point where both the new North-East line and the future Circle line will be linked to the existing Dhoby Ghaut MRT station. More than 20,000 people are expected to go through the station every hour during peak periods.

Prominent new anchor tenants, international hypermarket operator, Carrefour Singapore, and leading electrical and electronics products chain, Best Denki Singapore, have signed on with the mall and will start their operations in the second half of 2003. A new concept food hall has also been created at Basement 2. Exciting food eateries, and convenience and service trades have been introduced to give the area a market place feel. The eateries offer a wide range of food including tom yam udon, Vietnamese stuffed puffs, Chinese pastries, Korean maki, pizza and pasta.

With over 460,000 sq ft of net lettable area spread over nine-storeys, Plaza Singapura offers shoppers a wide range of shopping, entertainment and leisure activities. Each floor has been creatively themed to focus on specific groups within the target markets to ensure that there is something for everyone in the family. It enjoys convenient accessibility with its direct link at Basement 2 to the new Dhoby Ghaut MRT interchange. The tenant mix includes popular household brand names and diverse anchor tenants like Carrefour hypermarket, Best Denki, the leading electrical and electronics chain store in Singapore, Yamaha Music School, one of the largest music schools in Singapore, and Golden Village Cinemas which offers a 10 screen cineplex.

CapitaLand Commercial is the largest manager of office and retail space in Singapore with interests in the gateway cities of London, Shanghai, Hong Kong, Tokyo 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 multinational company's core businesses in residential, commercial and industrial property and property-related services, such as property funds and real estate financial products, are focused in selected gateway cities in China, Australia and the UK. In these countries, CapitaLand is in partnership with reputable local players and has established a management team that understands the market, business practices and socio-economic factors.

The Company's hospitality businesses, in hotels and serviced residences, span more than 50 cities around the world. CapitaLand also leverages on its significant real estate asset base and market knowledge to develop fee-based products and services in Singapore and the region.