Suntec – SGX

SUNTEC REIT ACQUIRES STATE LAND ALONG PENANG ROAD

Singapore, 30 July 2007 – ARA Trust Management (Suntec) Limited (“ARA Suntec”), the
Manager of Suntec Real Estate Investment Trust (“Suntec REIT”), is pleased to announce the acquisition from the State today, a strip of land of about 1,261 square metres (13,572 square feet) along Penang Road, at a land premium of S$14.5 million for amalgamation with Park Mall to create an additional floor area of 5,825 square metres (62,704 square feet) for the property.

The total acquisition cost of the land amounted to S$15.9 million. With the additional floor area, the total permissible gross floor area for Park Mall will increase to 41,492 square metres (446,622 square feet).

Mr Yeo See Kiat, Chief Executive Officer of ARA Suntec, said, “The acquisition of the
subject land and the creation of the additional floor area would enable us to implement a more comprehensive asset enhancement program for Park Mall, which would significantly add value to the REIT and our unitholders. Details of the asset enhancement program will be unveiled in due course.”

Source : SGX