Signing of Investment Cooperation Agreement by Singapore-Sichuan Investment Holdings Pte Ltd

Keppel Land Limited (“KLL” or the “Company”) wishes to announce that Singapore-Sichuan Investment Holdings Pte Ltd (“SSIH”), in which the Company has, through its associated company Keppel Hi-Tech Innovation Park Holdings Pte. Ltd. (“Keppel Hi-Tech”), an effective interest of 3.5%, has today signed an Investment Cooperation Agreement with Chengdu Hi-Tech Investment Group Co., Ltd. (“CHTIG”) and the Chengdu government (represented by the ChengduHigh-tech Industrial Development Administrative Committee) in relation to the proposed development of a 1000-hectare innovation park in the Chengdu Hi-Tech Zone’s South Park within the Chengdu-Chongqing Economic Zone.

The Investment Cooperation Agreement will take effect upon the signing of a joint venture agreement between SSIH and CHTIG.

Keppel Hi-Tech holds 10% shareholding interest in SSIH, a Singapore joint venture (“JointVenture”) that includes Sembcorp Industrial Parks Ltd (“Sembcorp”), a wholly-owned subsidiary of Temasek Holdings (Private) Limited (“Temasek”) and Ascendas (China) Pte Ltd. SSIH and CHTIG will in turn own 50:50 share in a Chinese incorporated company to co-develop the innovation park. The registered capital of the project company is approximately US$297 million. The shareholders of Keppel Hi-Tech comprise Keppel Land China Limited (a wholly-owned subsidiary of KLL), Keppel Corporation Limited (“KCL”) and Keppel Integrated Engineering Limited with 35%, 45% and 20% shareholding interests respectively. The Joint Venture is an “interested person transaction” for the purposes of Chapter 9 of the Listing Manual as SembCorp is an associate of Temasek and Temasek is a controlling shareholder of SembCorp, KCL and KLL. However, the aggregate value of all transactions (including the abovementioned transactions) entered into with each of Temasek, Sembcorp and KCL in FY2011 does not equal to, nor exceed, 3% of KLL Group’s latest audited net tangible assets.

Mr Choo Chiau Beng, Mr Teo Soon Hoe and Mrs Oon Kum Loon, directors of the Company, are directors of KCL.

Save as disclosed hereunder, none of the directors or controlling shareholders of the Company has any interest, direct or indirect, in the abovementioned transactions.

The abovementioned transactions are not expected to have any material impact on the earnings per share and net tangible assets per share of the KLL Group for the current financial year.

BY ORDER OF THE BOARD
Choo Chin Teck
Company Secretary
15 September 2011