Suntec – SGX

SUPPLEMENTAL AGREEMENT IN RELATION TO THE PROPOSED ACQUISITION OF ONE-THIRD INTEREST IN ONE RAFFLES QUAY

Singapore, 11 September 2007 – ARA Trust Management (Suntec) Limited (“ARA Suntec”), Manager of Suntec Real Estate Investment Trust (“Suntec REIT”), wishes to announce that HSBC Institutional Trust Services (Singapore) Limited, as trustee of Suntec REIT, has today entered into a supplemental agreement to the share purchase agreement signed with Cavell Limited (the “Vendor”) on 30 July 2007 for the acquisition by Suntec REIT of a one-third interest in One Raffles Quay through the acquisition of the entire issued share capital of Comina Investment Limited (“Comina”).

Under the terms of the supplemental agreement, the consideration for the purchase of the entire issued share capital of Comina shall be satisfied by (i) allotment and issue of units in Suntec REIT (“Consideration Units”) of an aggregate value of S$94.15 million, and (ii) payment in cash, by Suntec REIT to the Vendor. This is subject to, inter alia, the approval by the unitholders of Suntec REIT which will be sought at a general meeting to be convened to approve the proposed acquisition, as well as regulatory approval by the Singapore Stock Exchange.

Mr Justin Chiu, Chairman of the Manager said, “The issue of the consideration units underscores Cheung Kong’s commitment and support to Suntec REIT by aligning its interest along with that of Suntec REIT’s unitholders”.

Source : SGX