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FOR IMMEDIATE RELEASE

29 October 2010

NEWS RELEASE

CapitaLand sets up new business unit, CapitaValue Homes Expansion in affordable housing sector in China and Vietnam

Singapore, 29 October 2010 – CapitaLand has set up a new business unit, CapitaValue

Homes, to grow its residential business in the affordable housing sector in China and Vietnam.

The new business unit will focus on developing well-designed and affordable homes in these

two countries.

Through CapitaValue Homes, CapitaLand has extended its core residential business to include

affordable housing, which caters to homebuyers whose mortgage capacity to purchase homes

are pegged to about 40% of the household income level in that particular city. The Group has

an extensive geographical reach in both China and Vietnam, possesses valuable domain

knowledge and enjoys strong network with the local authorities and real estate professionals in

the two countries.

Mr Liew Mun Leong, President & CEO of CapitaLand Group, said: “We have set up

CapitaValue Homes to meet the real, non-speculative demand for affordable homes in China

and Vietnam. Affordable housing has tremendous growth potential in these two countries due to

their rapid massive urbanisation. For a start, CapitaValue Homes has identified two sites, one

each in China and Vietnam, as its maiden projects.”

Mr Liew added: “We have appointed Chen Lian Pang as CEO of CapitaValue Homes.

Lian Pang brings with him more than 20 years of construction and real estate experience in

both Singapore and overseas.”

Mr Chen Lian Pang, CEO of CapitaValue Homes, said: “CapitaValue Homes will focus on

building homes that would be affordable to owner-occupiers who are looking to purchase a first

home. These homes will have a more standardised design with a different set of specifications

and design approach compared to the mid- to high-end homes that we have been building in

our core markets. We will also exploit industrial construction technology to save time and cost

for these projects. We are looking to build homes that are likely to be about 90 square metres in

size for the China market and about 60 to 70 square metres in size for the Vietnam market.

We will work closely with the local authorities to manage the land cost so that the selling prices

would be affordable to our homebuyers, with mortgage repayment pegged at approximately

40% of the average income level in that particular city.”

Maiden Vietnam project – Site in District 9, Ho Chi Minh City

CapitaLand signed a Conditional Joint Venture Agreement on 28 October 2010 with local

developer No Va Land Investment to jointly develop a residential site in District 9 in Ho Chi

Minh City, an established populous area that is well-served by amenities such as a

supermarket and planned sports and recreational facilities.

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The approximately 9,000-square-metre site, located at the fringe of the city centre, enjoys

convenient access via the future Ho Chi Minh-Long Thanh Highway and Hanoi Highway. It is

also within close proximity to the proposed Saigon Sport City and Saigon Golf Mixed-used

Development projects, as well as Ho Chi Minh Vocational College of Technology and Saigon

Hightech Park.

CapitaValue Homes, as the lead project developer for the site, plans to develop it into a

residential development with approximately 500 apartments.

Maiden China project – Site in Wuhan, Hubei Province

CapitaValue Homes has entered into a Co-operative Agreement with the Caidian District

Government as well as an Investment Framework Agreement with a Chinese state owned

enterprise to invest in a site in Wuhan City, Hubei Province, China. The site will have potential

gross floor area of over 200,000 square metres, to build more than 2,000 homes.

It is situated in the district’s Houguan Lake Eco-City and enjoys a scenic natural environment

and convenient accessibility. The location is approximately 20 kilometres from the city centre.

Wuhan City is the capital of Hubei Province and ideally situated in the heart of central China. It

has the fourth busiest airport in the country and enjoys a developed transportation network of

Pan-China railway system and the Yangtze River waterway. Wuhan City also has the largest

port in Central China. With the high-speed railways already built, or under construction, the

travelling time from Wuhan to Guangzhou, Shanghai or Beijing will be shortened to just less

than four hours.

More details on the acquisition of the site will be announced when it is finalised.

About CapitaLand Limited (www.capitaland.com)

CapitaLand is one of Asia’s largest real estate companies. Headquartered and listed in

Singapore, the multi-local company's core businesses in real estate, hospitality and real estate

financial services are focused in growth cities in Asia Pacific and Europe. The company's real

estate and hospitality portfolio, which includes homes, offices, shopping malls, serviced

residences and mixed developments， spans more than 110 cities in over 20 countries.

CapitaLand also leverages on its significant asset base, real estate domain knowledge,

financial skills and extensive market network to develop real estate financial products and

services in Singapore and the region. The listed entities of the CapitaLand Group include

Australand, CapitaMalls Asia, CapitaMall Trust, CapitaCommercial Trust, Ascott Residence

Trust, CapitaRetail China Trust, CapitaMalls Malaysia Trust and Quill Capita Trust.

Issued by: CapitaLand Limited (Co. Regn.: 198900036N)

Date: 29 October 2010

Analyst Contact Media Contact

Harold Woo, SVP, Investor Relations Basskaran Nair, SVP, Communications

Tel: +65 68233 210 Tel: +65 68233 554

Email: harold.woo@capitaland.com Email: basskaran.nair@capitaland.com