For immediate release 25 April 2012 NEWS RELEASE

CapitaMalls Asia to develop its first in ’s up-and-coming south region  15 kilometres away from Beijing’s upcoming second international airport  Located above Tiangongyuan (天宫院) station on the Daxing subway line  Strengthens CapitaMalls Asia’s market leadership in Beijing

Singapore, Hong Kong and Beijing, 25 April 2012 – CapitaMalls Asia Limited (SGX: JS8 and HKEx: 6813) is pleased to announce today that it is developing its first shopping mall in the south of Beijing, , to cater to the up-and-coming region. CapitaMalls Asia has signed a conditional agreement to acquire the site for the shopping mall, at Xinyuan Street in Daxing （大兴）district. The acquisition is subject to the approval of the Chinese government.

CapitaMalls Asia is acquiring the site from Poly Xing Real Estate Development Co., Ltd. Poly Xing is part of the Poly Real Estate Group Co., Ltd, one of the largest state-owned real estate players in China listed on the Stock Exchange. The Poly Real Estate Group achieved contract sales of RMB73.2 billion (S$14.7 billion / HK$90.3 billion) last year, ranking it among the top five real estate developers in China.

The Beijing government’s South Area Development Plan aims to accelerate economic development in the south of the city, and Daxing has been identified as a district which has been given priority for development. In addition to an investment commitment of RMB290.0 billion (S$58.1 billion / HK$357.8 billion) in infrastructure to improve transport connectivity, Beijing’s second international airport will also be located in Daxing. All these developments will raise the district’s overall attractiveness for business and living.

Located above Tiangongyuan (天宫院) station on the Daxing subway line, the site is well- served by public transport and enjoys good connectivity, with plans for a new bus interchange in the vicinity to be built in the next two to three years. The proposed shopping mall will be connected to the Tiangongyuan subway station and will be in the same vicinity as Poly Xing’s large development, which also comprises residential and office components and a kindergarten with a total gross floor area (“GFA”) of about 510,000 sq m. The residential portion, with more than 2,800 apartments, is scheduled to launch in the second half of this year.

Subject to planning approval, CapitaMalls Asia plans to develop a seven-storey shopping mall with a total GFA (excluding car park) of about 122,000 sq m. Positioned as a mid- to high-end, one-stop shopping destination, the shopping mall will house popular international and local fashion brands, a supermarket, good quality restaurants and dining concepts, coupled with modern leisure and entertainment trades. The mall will also have about 1,500 car park spaces.

The concept of a modern one-stop shopping mall with a nice ambience that is professionally managed is currently under-served in the Daxing market. When completed in 2015, the proposed mall will be one of the first major malls in Daxing, and will serve an immediate catchment of about 600,000 residents. It will provide convenience to shoppers, quality space for retailers, and meet the lifestyle needs of the residents of Daxing.

Including land cost, the total development cost of the shopping mall is expected to be about RMB2,343.0 million (S$469.2 million / HK$2,890.7 million), or about RMB19,190 (S$3,843 / HK$23,676) per sq m of GFA.

Mr Lim Beng Chee, CEO of CapitaMalls Asia, said: “We are pleased to develop our first shopping mall in the south of Beijing, to meet the under-served retail needs of the residents in this up-and-coming region. This has been made possible through our win-win agreement to acquire this site from the Poly Real Estate Group. We will each bring our core competencies to add value to this venture – our expertise in developing and managing shopping malls, and the Poly Real Estate Group’s experience in developing residential apartments. Our mall will also be able to tap on the strong captive catchment provided by their residential apartments, which will consist of mid- to high-income residents.”

“Beijing is the headquarters of our China operations. This mall in Daxing will be our ninth in the capital, strengthening CapitaMalls Asia’s market leadership in Beijing and expanding our presence to the southern part of the city. This acquisition also ties in with our strategy to leverage on our strengths and entrench our presence in the cities and regions that we are already in. Our mall has a prime location just above a subway station as well as a strong catchment of nearby residents, and Beijing’s upcoming second international airport is just 15 kilometres away.”

“The Beijing government has also identified Daxing as one of five new districts to get priority for development. Daxing’s GDP of RMB113.5 billion (S$22.7 billion / HK$140.0 billion) in 2011 was the highest among the five new districts and fifth among the 16 districts in Beijing. Retail sales of consumer goods in Daxing also grew about 26.0% last year to reach RMB39.3 billion (S$7.9 billion / HK$48.5 billion). With Daxing’s strong economic prospects, we are confident about the potential for retail sales growth in this dynamic district.”

Including this development, CapitaMalls Asia now has 57 shopping malls in 35 cities in China, of which 42 are operational while the other 15 are under development. CapitaMalls Asia now has nine malls in Beijing, of which seven are operational while the other two are under development. The operational malls are CapitaMall Crystal, CapitaMall Wangjing, CapitaMall Xizhimen, CapitaMall Anzhen, CapitaMall Cuiwei, CapitaMall Shuangjing and Raffles City Beijing.

Summary of proposed shopping mall in Daxing district in Beijing, China

Overall A prime development comprising a seven-storey shopping mall (from Basement 1 to Level 6)

Location Located at Xinyuan Street in Daxing district, Beijing, above Tiangongyuan station on the Daxing subway line

Site area 39,500 sq m (approximate)

GFA (excluding car park) 122,000 sq m (approximate)

No. of car park spaces About 1,500 (Basement 2 and 3)

Land use tenure 40 years, expiring in 2051

About CapitaMalls Asia ( www.capitamallsasia.com ) CapitaMalls Asia Limited is one of the largest listed shopping mall developers, owners and managers in Asia by total property value of assets and geographic reach. CapitaMalls Asia has an integrated shopping mall business model encompassing retail real estate investment, development, mall operations, asset management and fund management capabilities. It has interests in and manages a pan-Asian portfolio of 98 shopping malls across 51 cities in the five countries of , China, Malaysia, Japan and India, with a total property value of approximately S$29.5 billion (HK$181.8 billion) and a total GFA of approximately 88.6 million sq ft.

Shopping malls in the portfolio include ION Orchard and – which are located in one of the world’s most famous shopping streets, Orchard Road – and Clarke Quay in Singapore. Our landmark shopping malls in China are CapitaMall Crystal in Beijing, Hongkou Plaza in Shanghai and Raffles City Shanghai; and CapitaMall Jinniu in . The portfolio also includes Gurney Plaza in Penang, Malaysia; Vivit Square in Tokyo, Japan; as well as Forum Value Mall in Bangalore, India.

CapitaMalls Asia’s principal business strategy is to invest in, develop and manage a diversified portfolio of real estate used primarily for retail purposes in Asia, and to strengthen its market position as a leading developer, owner and manager of shopping malls in Asia.

Issued by: CapitaMalls Asia Limited (Co. Regn.: 200413169H) Date: 25 April 2012

For more information, please contact: Analyst Media Caroline Fong Lim Seng Jin Head, Investor Relations Head, Corporate Communications and Marketing Tel: +65 6826 5856 Tel: +65 6826 5778 Email: caroline.fong@.com Email: [email protected]

请即发送 2012 年年年4月月月25 日日日 新闻稿

凯德商用将将开发首个在开发首个在北京市南城的项目

 距离未来北京第二国际机场 15 公里

 位于大兴地铁线天宫院站上盖

 新购物中心将巩固凯德商用在北京的市场领导地位位位

新加坡、香港和北京，2012 年年年 4 月月月 25 日日日 – 凯德商用产业有限公司（以下简称“凯德商用”）（新 交所代码：JS8 ，港交所代码：6813 ）今天宣布，公司将开发首个在北京市南城的项目。凯德商

用已签署有条件协议购买大兴区新源街的一个地块建造购物中心。此项收购有待中国政府的审批。

凯德商用是从保利兴房地产有限公司购买该地块。保利兴房地产有限公司是中国最大的国有房地 产开发商——保利房地产（集团）股份有限公司的旗下成员，该集团于上海证交所上市。保利房

地产集团去年的住宅销售总额为 732 亿人民币（147 亿新元 / 903 亿港元），位居中国所有房地 产商前五名。

北京市政府南城开发计划旨在加速其经济发展进程。在此计划中，大兴区将会是首要进行开发的

地区。政府将会投资 2,900 亿人民币（581 亿新元 / 3578 亿港元）来建设基础公共设施，以提升 该区的交通网络。北京第二国际机场也将会建在大兴区。这些发展计划将会提升该区的商业和生

活环境，使该区更具吸引力。

凯德商用收购的这一地块位于大兴地铁线天宫院站上盖，交通便利，四通八达，接下来的两到三 年内地铁站附近还将增设一个新的公交转换站。新购物中心将会与天宫院地铁站相连接，并坐落 在保利兴的大型开发项目范围之内。该开发项目还包括住宅、办公楼和一个幼儿园。连同凯德商

用购物中心在内，保利兴此开发项目的总建筑面积为约 510,000 平方米。其住宅楼拥有超过 2,800 个单元，预计于今年下半年开盘。

凯德商用计划在该地块建造一座七层的购物中心，总建筑面积（不包括停车场）为约 122,000 平 方米。此一站式购物中心定位中高端，中心内的业态将包括众多国际及国内知名时装品牌、超市、

高品质餐饮和现代休闲娱乐设施。购物中心也将提供约 1,500 个停车位。此购物中心开发计划有

待政府审批。

目前，大兴区缺少环境舒适、管理专业的一站式购物中心。购物中心于 2015 年竣工后，将会是 大兴区内的首个大型购物中心之一，并会直接覆盖周边的约 60 万居民，为他们提供便捷的购物 体验，并满足他们的生活需求。此外，这家购物中心将为有意在北京市南城扩张的零售商提供优

质的零售地产。

包括土地价格在内，此购物中心的开发成本共约为 23.43 亿人民币（4.692 亿新元 / 28.907 亿港

元），以每平米的建筑面积计为约 19,190 人民币（3,843 新元 / 23,676 港元）。

凯德商用总裁林明志先生表示：“我们很高兴开发我们首个位于北京市南城的购物中心，以满足这 个即将崛起的区域零售市场供不应求的情况。鉴于我们与保利兴的双赢购地协议，双方能够结合 各自的专业优势于一体，即我们开发及管理购物中心的专业技能优势和保利房地产集团开发住宅 项目的经验，为整个保利兴的大型开发项目增值。住宅楼的中高收入居民将会为购物中心带来稳

定的人流和消费。”

“北京是凯德商用中国总部的所在地。该购物中心将成为我们在北京的第九个项目。它将巩固凯德 商用中国在北京的市场领导地位，并将我们的业务扩展至南城。此项收购让我们得以充分利用我 们的实力，实行深化凯德商用中国在目前已有项目的城市和区域中市场地位的发展战略。新的购

物中心富有诸多优势，它坐落在地铁站上盖，并将会距离北京第二国际机场 15 公里，其周边的 居民人口也多。”

“北京市政府已确认大兴区为五大优先发展的新区之一。2011 年，大兴区 GDP 为 1135 亿人民

币（227 亿新元 / 1400 亿港元），居五个开发新区的首位，并在北京 16 个区中位列第五。大兴 区零售销售额也在 2011 年达到 393 亿人民币（79 亿新元 / 485 亿港元）， 同比增长 26% 。鉴

于大兴的强劲经济前景，我们对该区域的零售销售增长充满信心。”

包括这个项目在内，凯德商用目前在中国的 35 个城市拥有 57 家购物中心，其中 42 家已投入运 营，15 家正在开发中。凯德商用目前在北京有 9 家购物中心，7 家已开业运营，2 家正在开发中。

这 7 家已投入运营的购物中心分别是：凯德晶品购物中心、凯德 MALL ·望京、凯德 MALL ·西直门、

凯德 MALL ·安贞、凯德 MALL ·翠微路、凯德 MALL ·双井和北京来福士中心。

项目概况

总体概况 一座七层楼高的黄金地段购物中心（地下一层，地上六 层）

地理位置 位于北京市大兴区新源街，大兴地铁线天宫院站上盖

项目占地面积 39,500 平方米（约值）

总建筑面积（不包括停车位） 122,000 平方米（约值）

停车位总数 约 1,500 个（地下 2 层和 3 层）

土地使用年限 40 年，将于 2051 年到期

凯德商用产业有限公司简介 (www.capitamallsasia.com )

凯德商用产业有限公司（以下简称“凯德商用”）是以物业资产总值及地理覆盖范围计算，亚洲上 市的最大购物中心开发商、拥有者及管理者之一。凯德商用一体化的商场经营模式涉及商用地产 投资、开发、商场运营、资产管理及基金管理等范畴。凯德商用在亚太地区中拥有及管理新加坡、 中国、马来西亚、日本及印度五国内 51 个城市共 98 个商业地产项目，物业总值约 295 亿新元 （1818 亿港元） ，总面积约 8860 万平方尺。

凯德商用的商场项目包括位于世界著名购物街道之一的新加坡乌节路的 ION Orchard 及狮城大厦、 新加坡来福士城及克拉码头。在中国的标志性项目包括北京的凯德晶品购物中心、上海的凯德龙 之梦虹口和上海来福士广场、及成都的凯德广场•金牛等。 其资产组合也包括位于马来西亚槟城 的合您广场、日本东京的 Vivit Square 及印度班加罗尔的 Forum Value Mall 。

凯德商用的主要经营策略是在于投资、开发及管理处于亚洲，以零售商用为主的多元化地产组合， 并致力于强化本身在亚洲作为顶尖的购物中心开发商、拥有者及管理者的地位。

信息发布自：：：凯德商用产业有限公司：凯德商用产业有限公司（（（Co. Regn.: 200413169H ））） 日期：：： 2012 年年年4月月月25 日日日 咨询联系： 凯德商用 分析员 媒体成员 冯明月Caroline Fong 林成仁 Lim Seng Jin 凯德商用 凯德商用 投资者关系总监 企业传播与品牌策略总监 电话: +65 6826 5856 电话: +65 6826 5778 电邮: [email protected] 电邮: [email protected]

CapitaMalls Asia Limited

Asia’s Leading Mall Developer, Owner and Manager

Singapore • China • Malaysia • Japan • India Acquisition of Tiangongyuan Site in Beijing 25 April 2012 Acquisition of Tiangongyuan Site in Beijing *April 2012* Disclaimer

This presentation may contain forward-looking statements that involve assumptions, risks and uncertainties. Actual future performance, outcomes and results may differ materially from those expressed in forward-looking statements as a result of a number of risks, uncertainties and assumptions. Representative examples of these factors include (without limitation) general industry and economic conditions, interest rate trends, cost of capital and capital availability, competition from other developments or companies, shifts in expected levels of occupancy rate, property rental income, charge out collections, changes in operating expenses (including employee wages, benefits and training costs), governmental and public policy changes and the continued availability of financing in the amounts and the terms necessary to support future business. You are cautioned not to place undue reliance on these forward-looking statements, which are based on the current view of management on future events.

The information contained in this presentation has not been independently verified. No representation or warranty expressed or implied is made as to, and no reliance should be placed on, the fairness, accuracy, completeness or correctness of the information or opinions contained in this presentation. Neither CapitaMalls Asia (“CMA”) or any of its affiliates, advisers or representatives shall have any liability whatsoever (in negligence or otherwise) for any loss howsoever arising, whether directly or indirectly, from any use, reliance or distribution of this presentation or its contents or otherwise arising in connection with this presentation.

The past performance of CMA is not indicative of the future performance of CMA.

The value of shares in CMA (“Shares”) and the income derived from them may fall as well as rise. Shares are not obligations of, deposits in, or guaranteed by, CMA or any of its affiliates. An investment in Shares is subject to investment risks, including the possible loss of the principal amount invested.

1 Acquisition of Tiangongyuan Site in Beijing *April 2012* Rationale of Investment  1st entry into south of Beijing.  Total 9 malls in Beijing.  Located in Daxing, the 2nd largest district among Beijing development new towns.  Identified by Beijing government as one of the five suburban districts to get priority for development.  Future Beijing 2nd International airport, to be located in Daxing.  Daxing’s 2011 Disposable Income per capita of ~RMB27,786.  To serve a population catchment of more than 600,000.

2 Acquisition of Tiangongyuan Site in Beijing *April 2012* Strengthening Our Presence by Entering into South of Beijing

CapitaMall Taiyanggong CapitaMall Wangjing 1 CapitaMall Anzhen 3 2 Raffles City Beijing CapitaMall Xizhimen 4 8  40 minutes to Xi’dan CapitaMall Crystal 5 6 CapitaMall Shuangjing commercial area and 7 financial street. CapitaMall Cuiwei

Tiangongyuan Site Future 2nd Airport

3 Acquisition of Tiangongyuan Site in Beijing *April 2012* Total 9 Malls in Beijing

7 Operating Malls AUM of ~RMB11.0 bil + 1 Mall to be opened in 2012 Operating Malls Valuation RMB psm GFA (excluding carpark) CapitaMall Anzhen 21,300 Subject Site CapitaMall Wangjing 22,100 CapitaMall Shuangjing 10,600 CapitaMall Xizhimen 26,800 Raffles City Beijing 29,400 9 Malls (Retail) CapitaMall Cuiwei 18,500 CapitaMall Crystal 25,100

Note: AUM by valuation as at 31 Dec 2011

4 Acquisition of Tiangongyuan Site in Beijing *April 2012* Artist’s Impression - Project Details Tiangongyuan site, Beijing, China Acquisition of Tiangongyuan Site in Beijing *April 2012* Excellent Connectivity to Transportation Hubs Located Above Tiangongyuan Station on the Daxing Subway Line

Daxing Subway Line

Subject Site

Subway

Residential

Office Future Bus Interchange

Beijing-Kaifeng Acquisition of Tiangongyuan Site in Beijing *April 2012* Expressway Artist’s Impression of Tiangongyuan Site

Total PDE RMB2,343 million

Acquisition of Tiangongyuan Site in Beijing *April 2012* Site Information

A prime development comprising a seven-storey Overall shopping mall (from Basement 1 to Level 6) Located at Xinyuan Street in Daxing district, Location Beijing, above Tiangongyuan station on the Daxing subway line

Site area ~ 39,500 sqm

GFA (excluding car park) ~ 122,000 sqm

No. of car park spaces 1,500 (Basement 2 and 3)

Target to open 2015

Total PDE RMB2,343 million (~RMB19,190 psm GFA)

8 Acquisition of Tiangongyuan Site in Beijing *April 2012* CapitaMall Cuiwei, Beijing, China Appendix Acquisition of Tiangongyuan Site in Beijing *April 2012* Beijing Economic Snapshot

 Economic Fundamentals – strong growth pace at heart of nation in 2011 . GDP achieved 8.1% growth, expect strong growth momentum in 2012.

. Per capita GDP reached RMB80,394.

. Per capita urban disposable income reached RMB32,903, an increase of 13.2% over the previous year.

. Retail sales of consumer goods crossed RMB690 billion, ranked 1st in China, ahead of Shanghai.

 Beijing Suburb Development Plan . Background: Beijing had 20 million population at end of 2011, one of the most populated cities in the world, driven by the fast-pace economic growth.

. Beijing New Town Development Plan (2007): Channel priority development emphasis to 5 suburban districts (Daxing, Tongzhou, Shunyi, Changping & Fangshan).

. Beijing South Area Development Plan (2009) to accelerate economic development towards southern Beijing, including: I. investing RMB290 billion in infrastructure, II. building Daxing subway line to connect to city centre, III. endorsing Beijing’s 2nd international airport site in Daxing.

10 Acquisition of Tiangongyuan Site in Beijing *April 2012* Daxing Economic & Market Overview

Emerging Potential in Beijing

 One of the 5 Beijing Development New Towns

Beijing Map Daxing FY 2011 Land Area (km2) 1,036

Resident Population (mil) 1.37

GDP (RMB bil) 115.0

Urban Disposable Income per 27,786 Capital (RMB)

Total Sales of consumer goods 17.3 (RMB bil)

Suburban districts: Daxing, Tongzhou, Shunyi, Changping, Fangshan, Mentougou, Yanqing, Huairou, Miyun, Pinggu. Development new towns: Daxing, Tongzhou, Shunyi, Changping, Fangshan.

11 Acquisition of Tiangongyuan Site in Beijing *April 2012* Beijing Five Development New Towns Economic Statistics

Daxing to Lead the GDP Growth

YR 2011 Daxing Changping Tongzhou Fangshan Shunyi

Land Area (km2) 1,036 1,344 907 2,019 1,021

Resident Population (mil) 1.37 1.66 1.18 0.95 0.88

GDP (RMB bil) 115.0 44.8 40.0 41.7 100.2

Urban Disposable Income per 27,786 27,669 27,713 26,956 28,164 Capita (RMB)

Total Sales of consumer goods 17.3 25.0 20.8 15.7 21.7 (RMB bil)

Sources: Statistical Information Net of each District

12 Acquisition of Tiangongyuan Site in Beijing *April 2012* Thank You

For enquiries from analysts & investors, For enquiries from Hong Kong/China analysts Please contact: & investors, Caroline Fong please contact: Investor Relations Maggie Huang Tel: (65) 6536 1188 Investor Relations Email: [email protected] Tel: (86) 137-0119-8439 Email: [email protected] Brenda Ng Investor Relations Tel: (65) 6536 1188 Email: [email protected]

13 Acquisition of Tiangongyuan Site in Beijing *April 2012*