CMT – SGX

CapitaMall Trust’s Private Placement Fully Subscribed

Raises approximately S$352.1 million at S$3.63 per unit

Singapore, 30 October 2007 – CapitaMall Trust Management Limited (“CMTML”), the manager of CapitaMall Trust (“CMT”), is pleased to inform that 97.0 million New Units have been fully subscribed by investors through a private placement (the “Private Placement”), at an issue price of S$3.63 per New Unit (the “Issue Price”), raising aggregate gross proceeds of approximately S$352.1 million. The Private Placement is expected to reduce CMT’s gearing from 40.7% to 34.9%.

The issue price of S$3.63 represents a discount of approximately 3.2% to CMT’s volume weighted average price of the existing units in CMT (“Units”), based on all trades in the Units on Singapore Exchange Securities Trading Limited (“SGX-ST”) for the full market day of 29 October 2007. The book building exercise by Joint Lead Managers and Underwriters, DBS Bank Limited (“DBS”) and UBS AG, acting through its business group, UBS Investment Bank (“UBS”), commenced in the evening of 29 October 2007, and closed at 6.00 pm (Singapore Time) on 30 October 2007. The total demand book comprised over 30 quality long-term institutional investors from Switzerland, off-shore United States, Europe, Asia and Australia.

Mr Pua Seck Guan, Chief Executive Officer of CMTML, said, “We would like to thank all investors who have subscribed for the New Units under the Private Placement. The support from a wide spectrum of property-focused local and international investors is indeed a testament of their confidence in our strong execution and delivery capabilities. With our strengthened debt capacity, we are now well-poised to pursue yield accretive acquisition opportunities in Singapore to deliver stable distributions and sustainable total returns to Unitholders. “

Status and Listing of the New Units

The New Units to be issued under the Private Placement will rank equal in all respects with the then existing units of CMT and will qualify for any distributions which may be paid for the period from the day the New Units are issued to 31 December 2007, as well as distributions thereafter. Subject to the SGX-ST granting its approval in-principle, the trading of the New Units on the SGX-ST is currently expected to commence on or about 7 November 2007.

CMT’s policy is to distribute its distributable income on a quarterly basis to Unitholders. The next distribution was originally scheduled to take place in respect of CMT’s third quarter distributable income for the period 1 July 2007 to 30 September 2007 (the “Scheduled Distribution”). However, in conjunction with the Private Placement, CMTML intends to declare, in lieu of the Scheduled Distribution, a distribution of CMT’s distributable income for the period from 1 July 2007 to the day immediately prior to the date on which New Units are issued under the Private Placement. The New Units will not be entitled to such distribution.

The next distribution thereafter will comprise CMT’s distributable income for the period from the day that New Units are issued pursuant to the Private Placement to 31 December 2007. Quarterly distributions will resume thereafter.

Source : SGX