Singapore, 13 March 2008 – ARA Trust Management (Suntec) Limited (“ARA Suntec”), the Manager of Suntec Real Estate Investment Trust (“Suntec REIT”), is pleased to announce that further to the earlier acquisition of approximately 1,261 square metres (13,572 square feet) of land along Penang Road in July 2007, it has today acquired an additional strip of land of about 103 square metres (1,105 square feet) at a land premium of S$1.2 million for amalgamation with Park Mall to create an additional floor area of 474 square metres (5,105 square feet) for the property.

Combined with the earlier acquisition, the total acquisition cost of the land amounted to S$15.6 million, and the total permissible gross floor area for Park Mall will increase by about 6,300 square metres (67,810 square feet) to 41,966 square metres (451,727 square feet).

Mr Yeo See Kiat, Chief Executive Officer of ARA Suntec, said, “I am pleased that we were able to acquire this additional strip of land which would further strengthen our asset enhancement plans for Park Mall.”