CAPITAMALLS ASIA LIMITED

Regn. No.: 200413169H (Incorporated in the Republic of Singapore)

ANNOUNCEMENT

SUBSCRIPTION OF ADDITIONAL SHARES IN BRILLIANCE RESIDENTIAL (1) PTE. LTD.

CapitaMalls Asia Limited (“CMA”) wishes to announce that its wholly-owned subsidiary, CMA Singapore Investments (3) Pte. Ltd. (“CMASI”), has subscribed for and been allotted an additional

499,999 shares in the issued and paid-up share capital of Brilliance Residential (1) Pte. Ltd. (“BR1”) for a cash consideration of S$499,999 (the “Subscription”). The additional capital will be used to fund the working requirements of BR1. Prior to the Subscription, CMASI held 1 share in BR1.

BR1 is developing the site located at New Upper Changi Road / Bedok North Drive into an integrated development comprising apartments and a shopping mall jointly with Brilliance Mall Trust.

The 500,000 ordinary shares held by CMASI represents 50% of the total issued and paid up share capital of BR1 and the remaining 50% is held by a wholly-owned subsidiary of CapitaLand Limited (“CL”). Following the Subscription, BR1 remains an associated company of CMA.

The above transaction is not expected to have any material impact on the consolidated net tangible assets and earnings per share of CMA for the financial year ending 31 December 2011.

Mr Liew Mun Leong is a Director and the President and Chief Executive Officer of CL. He is also the Chairman and a Non-Executive Director of CMA. Mrs Arfat Pannir Selvam is an Independent Non-Executive Director of both CL and CMA. CL currently holds a 65.48% interest in CMA.

Certain Directors of CMA, namely Mr Liew Mun Leong, Ms Jennie Chua Kheng Yeng, Mr Olivier Lim Tse Ghow, Mr Lim Beng Chee, Dr Loo Choon Yong and Mrs Arfat Pannir Selvam have interest in CL shares.

Save as disclosed above, none of the Directors or the controlling shareholder of CMA has any interest, direct or indirect, in the above transaction.

By Order of the Board

Kannan Malini

Company Secretary

3 June 2011

The initial public offering of CapitaMalls Asia Limited’s shares was sponsored by J.P. Morgan

(S.E.A.) Limited and DBS Bank Ltd.