NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART, IN, INTO OR FROM ANY JURISDICTION WHERE TO DO SO WOULD CONSTITUTE A VIOLATION OF THE RELEVANT LAWS OF THAT

JURISDICTION.

VOLUNTARY UNCONDITIONAL CASH OFFER

by

SOUND INVESTMENT HOLDINGS PTE. LTD.

(Incorporated in the Republic of Singapore) (Company Registration No. 201410701H)

a wholly-owned subsidiary of

CAPITALAND LIMITED (Incorporated in the Republic of Singapore) (Company Registration No. 198900036N)

for

CAPITAMALLS ASIA LIMITED

凱德商用產業有限公司*

(Incorporated in the Republic of Singapore with limited liability) (Singapore Company Registration Number: 200413169H) (Singapore Stock Code: JS8)

(Hong Kong Stock Code: 6813)

Joint Financial Advisers to the Offeror and CapitaLand

CREDIT SUISSE (SINGAPORE) LIMITED (Incorporated in the Republic of Singapore) (Company Registration No. 197702363D) MORGAN STANLEY ASIA (SINGAPORE) PTE.

(Incorporated in the Republic of Singapore) (Company Registration No. 199206298Z)

OFFEROR AND CAPITALAND OWN MORE THAN 90% OF SHARES IN CMA 1. Introduction

Reference is made to:
(i) the voluntary conditional cash offer ("Offer") by Sound Investment Holdings Pte. Ltd. ("Offeror"), a wholly-owned subsidiary of CapitaLand Limited ("CapitaLand"), for all the

* For identification purposes only.

remaining ordinary shares ("Shares") in the capital of CapitaMalls Asia Limited ("CMA", CapitaLand's subsidiary), with a view to delist CMA, announced on 14 April 2014, which has been declared unconditional in all respects on 16 May 2014;
(ii) the Offer Document dated 28 April 2014 (the "Offer Document") in relation to the Offer; (iii) the announcement dated 16 May 2014 in relation to the revision of the Offer Price and
the waiver of the Acceptance Condition; and
(iv) the announcement dated 5 June 2014 ("Dealing Disclosure") in relation to the dealing in
Shares by Offeror and the latest level of acceptances of the Offer as at 4 June 2014.
Unless otherwise defined, capitalised terms in this Announcement have the same meanings as defined in the Offer Document.

2. Level of Acceptances and Aggregate Shareholdings

As announced in the Dealing Disclosure, as at 5.00 p.m. on 4 June 2014, the Offeror has received in aggregate valid acceptances in respect of 450,164,267 Shares, representing approximately 11.5% of the issued share capital of CMA1 which, when taken together with the Shares owned, controlled or agreed to be acquired by the Offeror and its Concert Parties as at
the same date, comprise an aggregate of 3,614,324,178 Shares, representing approximately
92.7% of the issued share capital of CMA.

3. Trading Suspension and Delisting

Under Rule 1303(1) of the Listing Manual, as the Offeror and its Concert Parties have, through acceptances or otherwise, succeeded in holding more than 90% of the Shares in issue, the SGX- ST will suspend trading of the Shares on the SGX-ST at the close of the Offer.2
As stated in the Offer Document, the Offeror and CapitaLand intend to make CMA a wholly- owned subsidiary of CapitaLand and do not intend to preserve the listing status of CMA. Therefore, the Offeror and CapitaLand do not intend to support any action or take any steps to maintain the listing status of CMA or to restore the free float of the Shares

consistent with their intention to delist CMA from the SGX-ST.3

Additionally, an application has been made to the SGX-ST for the delisting of CMA.4

1 In this Announcement, the percentage of CMA shareholding is computed based on 3,897,824,435 Shares in issue as at 2 June 2014.

2 The trading of the Shares on HKSE will also be suspended at the close of the Offer following the suspension

of trading in the Shares on the SGX-ST.

3 Consistent with the intention of the Offeror and CapitaLand to delist CMA from the SGX-ST, they also intend to delist CMA from HKSE.

4 A separate application will be made to HKSE for the delisting of CMA from HKSE.

4. Offer Remains Open for Acceptances The Offer remains open for acceptances until 5.30 p.m. (Singapore time) on 9 June 2014 (or such later date(s) as may be announced from time to time by or on behalf of the Offeror). If you wish to accept the Offer, you may do so by following the procedures for acceptance of the Offer as set out in the Offer Document and the relevant Acceptance Forms.

You should read and carefully consider the recommendation of the directors of CMA who are considered independent in relation to the Offer and the opinion of the independent financial adviser to such directors as set out in CMA's supplemental circular to Shareholders dated 23 May
2014 before taking any action in relation to the Offer. If you are in any doubt about the Offer, you should consult your stockbroker, bank manager, solicitor or other professional adviser immediately. All Overseas Shareholders should inform themselves about, and observe, any applicable requirements in their own jurisdictions.

5. Responsibility Statement 5.1 Directors of Offeror. The directors of the Offeror (including any who may have delegated detailed supervision of this Announcement) have taken all reasonable care to ensure that the facts stated and all opinions expressed in this Announcement are fair and accurate and that no material facts have been omitted from this Announcement, and they jointly and severally accept responsibility accordingly.

Where any information has been extracted or reproduced from published or publicly available sources, the sole responsibility of the directors of the Offeror has been to ensure through reasonable enquiries that such information is accurately extracted from such sources or, as the case may be, reflected or reproduced in this Announcement.

5.2 Directors of CapitaLand. The directors of CapitaLand (including any who may have delegated detailed supervision of this Announcement) have taken all reasonable care to ensure that the facts stated and all opinions expressed in this Announcement are fair and accurate and that no material facts have been omitted from this Announcement, and they jointly and severally accept responsibility accordingly.

Where any information has been extracted or reproduced from published or publicly available sources, the sole responsibility of the directors of CapitaLand has been to ensure through reasonable enquiries that such information is accurately extracted from such sources or, as the case may be, reflected or reproduced in this Announcement.
Issued by

Credit Suisse (Singapore) Limited and Morgan Stanley Asia (Singapore) Pte.

For and on behalf of

Sound Investment Holdings Pte. Ltd.

5 June 2014
Singapore

distributed by