Launch of RMB 4.5 Billion Integrated Riverfront Eco-Neighbourhood in Tianjin Eco-City

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1 Launch of RMB 4.5 Billion Integrated Riverfront Eco-Neighbourhood in Tianjin Eco-City Tianjin/Singapore 20 May, 2010 Sino-Singapore Tianjin Eco-City Investment and Development Co., Ltd. () has signed a RMB 4.5 billion agreement with Mitsui Fudosan Residential Co., Ltd. (Mitsui Fudosan Residential) and Tiong Seng Properties Pte Ltd (Tiong Seng) and to create the first riverfront eco-neighbourhood in the Tianjin Eco-city. The first phase of this project, consisting of about 450 high-rise apartments, will be launched for sale in the second half of this year. The highlight of this tripartite collaboration will be the creation of a high-end residential development at the only riverfront land plot in the Start-up area of the Tianjin Eco-city, and will be the first in the Eco-city s Start Up Area to attain the Leadership in Energy and Environmental Design for Neighbourhood Development (LEED-ND) certification. This will also be the first of its kind LEED-ND certified integrated neighbourhood in China. The LEED-ND standard is a new system of creating and evaluating environmental sustainability in urban design and development. It is built on the idea that urban design, land use and the environment are inextricably linked. The eco-neighbourhood will also be the first in the Tianjin Eco-city s Start-up area to have residences meeting the Gold standard of the Tianjin Eco-city s Green Building Evaluation Standard (GBES). This project is a major milestone for all three parties. It is Mitsui Fudosan Residential s first project into China with foreign partners and is also a landmark project for Tiong Seng since its listing on the main board of the Singapore Exchange last month. Mr. Goh Chye Boon, Chief Executive Officer of, emphasises this tripartite alliance as a strategic one, This partnership with Mitsui Fudosan Residential and Tiong Seng will introduce international expertise, experience and excellence to build a model Eco-city that would provide a home for people to live, work and play, in a practical and environmentally-sustainable manner. This demonstrates the Eco-city s intention to bring in the best of the world to create the best living environment for our future residents. The integrated development of three adjacent land plots with a residential GFA of more than 360,000 sqm is expected to be fully completed by 2014, and will offer a variety of housing

2 options ranging from mid-high residential to high-end low-rise housing. By connecting the three plots from the eco-valley to the riverfront to create a walkable community, residents of any one plot can easily access amenities such as the neighbourhood centre, school, LRT stations and the riverfront lifestyle, offered by the other plots. The above agreement is not expected to have any material impact on the net tangible assets and earnings per share of Keppel Corporation Limited for the current financial year. About Sino-Singapore Tianjin Eco-City () is the master developer for the Tianjin Eco-City. It is a 50/50 joint venture between the Chinese Consortium led by Tianjin TEDA Investment Holding Co., Ltd (Tianjin TEDA) and the Singapore Consortium led by the Keppel Group. The Tianjin Eco-City is a landmark bilateral project between China and Singapore with privatesector investment and development. Located in the Tianjin Binhai New Area (40 km away from Tianjin city centre), the 30-sq km Tianjin Eco-City is envisioned to create a harmonious and sustainable community that meets the needs of an urbanising China and will be a modern township where 350,000 residents can live, work and play. When completed, the 4-sq km Start Up Area will be home to 26,500 households, with the first batch of residents expected to move in around For more information about Sino-Singapore Tianjin Eco-City, please visit About Mitsui Fudosan Residential Co., Ltd. Mitsui Fudosan Co., Ltd. and its subsidiaries are the largest comprehensive real estate group in Japan. It is Japan s largest property developer. Examples of its projects in Japan include the Tokyo Midtown which was awarded the Special Jury Award at the 2007 MIPIM Asian Conference held in Hong Kong, the Akasaka Biz Tower, the Gran Tokyo North Tower, the Nihonbashi Mitsui Tower, and the Mitsui Outlet Park chain of shopping outlets. Beyond Japan, Mitsui Fudosan has office buildings in New York and London, the Halekulani and other hotels in Hawaii, as well as hotel and housing in Singapore.

3 Mitsui Fudosan is publicly-listed on the Tokyo Stock Exchange and has eight business segments that are in place to provide a full suite of solutions and services for its real estate business. The Leasing segment leases houses and commercial facilities. The Sales of Housing, Office Buildings and Land sells detached housing, condominiums, buildings, and land etc. The Construction segment constructs detached housing, apartments, etc (including planning and designing). The Brokerage, Sale and Consulting segment provides consultation services for real estate development, investment and others, as well as the brokerage and sale of real estate. The Property Management segment provides property management, maintenance and cleaning services (including tenant improvement). The Sales of Housing Material and Merchandise segment manufactures and sells housing materials, as well as wholesale and retail of general goods. Mitsui Fudosan Residential Co., Ltd. uses its extensive development expertise and experience and reflects the opinions of customers in developing properties. A key goal is to create neighborhoods replete with greenery that improve with age to raise the attraction and value of local communities, as it builds on its strength in areas such as urban properties and large-scale, mixed-use buildings that create entire neighborhoods. About Tiong Seng Properties Pte Ltd (Tiong Seng Properties) Tiong Seng Properties is a subsidiary of Tiong Seng Holdings Limited (Tiong Seng). Tiong Seng s principal activities include construction and civil engineering works in Singapore, and property development in the PRC. With an established track record of over 50 years, Tiong Seng is one of the leading building construction and civil engineering contractors in Singapore. It holds the highest grading of A1 from the Building Construction Authority of Singapore ( BCA ) for both general building and civil engineering, which qualifies the Group to undertake public sector construction projects with unlimited contract value. Tiong Seng s property development business focuses on developing residential and commercial projects in various cities in the PRC. The main focus of the Group s construction and civil engineering business is in Singapore, where it acts as the main contractor in construction projects for both the private and public sectors. The Group also undertakes civil engineering projects in Papua New Guinea.

4 Some of its major completed construction projects are One Marina Boulevard, Capella, St Regis Hotel and Residential Development (JV project), Guilin View, Parc Emily and Riveredge Condominium. Tiong Seng had also undertaken foundation/piling works for the Marina Bay Financial Centre. Together with its joint venture partner, Kajima Overseas Asia Pte Ltd, the Group had also secured several major projects such as the Sentosa Integrated Resorts, Marina Bay Financial Centre (commercial component). For civil engineering, Tiong Seng had also, in partnership with GS Engineering and Construction Corporation, secured a contract worth S$430 million to design and construct stations and tunnels at Hillview and Cashew for stage 2 of the Downtown Line. Over the years, the Group has received numerous awards and accolades in recognition of its quality management, safety track record and environmentally friendly efforts. For further information, contact Liu Tong General Manager, Corporate Development HP: (86) tong.liu@tianjineco-city.com - End - Clair Yow Executive, Marketing HP: (65) clair.yow@tianjineco-city.com For queries relating to Mitsui Fudosan Residential, please contact: Nakamura Hiroyasu MITSUI FUDOSAN CO., LTD. Corporate Communications Department Corporate Communications Group Tel: (81) For queries relating to Tiong Seng, please contact: Foo Yiting Consultant

5 August Consulting HP: (65)