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Investor MeetingsInvestor MeetingsMay 2008May 2008

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Introduction

Strategic Focus

Financial Performance

Awards

Recent Developments

Going Forward

ContentContent

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IntroductionIntroduction

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Manager of four funds and a pan-Asian commercial REIT

Focus on residential and township developments in Singapore, China, Vietnam, India and Indonesia

Developer of One Raffles Quay and Marina Bay Financial Centre, the new financial hub in Singapore downtown

IntroductionIntroduction

Premier property companyPremier property company

Leading prime office playerLeading prime office player

AsiaAsia’’s quality home developers quality home developer

Established property fund managerEstablished property fund manager

Total assets of $5.5 bil @ 31 Mar 08Market cap of $4.1 bil @ 21 May 08

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Strategic FocusStrategic Focus

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Singapore: Singapore:

Commercial developments especially in the New Downtown and CBD

Luxury waterfront and mid tier housing

Overseas :Overseas :

Residential townships and integrated lifestyle developments

Grow feeGrow fee--based income with greater AUMbased income with greater AUM

Focus on Two Core BusinessesFocus on Two Core Businesses

Strategic FocusStrategic Focus

Recycle Capital To Take on LargeRecycle Capital To Take on Large--Scale ProjectsScale Projects

Property DevelopmentProperty Development

Property Fund ManagementProperty Fund Management

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Financial PerformanceFinancial Performance

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(33.3)15.610.4Annualised ROE (%)

(63.6)1.180.43Net Debt / Equity Ratio (x)

39.8 2.313.23NTA / Share ($)

(3.4)8.78.4EPS (¢)

3.6 27.728.7Overseas Earnings (% of PATMI)(3.5)62.560.3PATMI ($m)

(1.1)83.882.9Pre-tax Profit ($m)

29.35571.1Operating Profit ($m)

(7.5)295.4273.1Turnover ($m)

% Chg1Q20071Q2008

1Q08 Financial Highlights1Q08 Financial Highlights

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55--Year Financial ProfileYear Financial Profile

FY07 FY06 FY05 FY04 FY03

PATMI ($m) 779.7* 200.3 155.7 132.7 100.4

Overseas Earnings (% of PATMI) 39.6 63.6^ 59.0^ 43.3 31.6

EPS (¢) 108.3 27.9 21.8 18.7 14.2

NTA / Share ($) 3.18 2.21 2.35 2.26 2.09

Net Debt / Equity Ratio (x) 0.41 1.04 1.14 0.96 0.95

ROE (%) 46.2* 12.8 9.5 8.6 6.8

DPS after Tax (¢) 20# 6 5 4 3.1

* Includes corporate restructuring surplus / enbloc property sales less impairment provision, and net gain on revaluation of investment properties^ % of PATMI before gains from en bloc property sales and impairment provision# Comprises Final Dividend of 8 cents and Special Dividend of 12 cents

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•• PATMI CAGR of 67%* (2003PATMI CAGR of 67%* (2003--2007) 2007)

•• ROE up from 6.8% in 2003 to 46.2% in 2007ROE up from 6.8% in 2003 to 46.2% in 2007

Growth in PATMI and ROEGrowth in PATMI and ROE

* Includes corporate restructuring surplus / enbloc property sales less impairment provision, and net gain on revaluation of investment properties

200.3

779.7*

155.7100.4

132.7

6.8% 8.6% 9.5%12.8%

46.2%

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100

200

300

400

500

600

700

800

2003 2004 2005 2006 2007

$m

0%

10%

20%

30%

40%

50%

60%

%

PATMI ROE

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AwardsAwards

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AwardsAwards

BT Corporate Transparency Index (12 May 2008)BT Corporate Transparency Index (12 May 2008)

Ranked 3rd out of 703 companies

Corporate AwardCorporate Award

Product Excellence AwardProduct Excellence Award

Design & Safety Excellence AwardDesign & Safety Excellence Award

ChristofleChristofle Asia Boating Awards 2008Asia Boating Awards 2008

Best Asian New Marina/Yacht Club – Marina at Keppel Bay

BCA Design & Engineering Safety Excellence Awards 2008BCA Design & Engineering Safety Excellence Awards 2008

One Raffles Quay

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Green AwardsGreen Awards

Platinum Award for Ocean Financial Centre (2008)

Gold Award for MBFC Commercial Development Ph 1 (2008)

Gold Award for Reflections at Keppel Bay (2008)

Gold Award for Marina Bay Residences (2007)

Gold Award for The Tresor (2006)

BCA Green Mark Awards BCA Green Mark Awards –– Platinum Platinum

BCA Green Mark Awards BCA Green Mark Awards –– GoldGold

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Recent DevelopmentsRecent Developments

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Singapore ResidentialSingapore ResidentialPremier Waterfront Developments at Keppel BayPremier Waterfront Developments at Keppel Bay

Total : 1,129 premier waterfront homes

Phase 1 (620 units) : Fully sold

Phase 2 : To be launched in 2H 2008

Longest cable-stayed bridge : 250m

Nominated for Land Transport Excellence Awards 2008 : - Best Design (Land Transport Integration)

World-class marina : 170 berths and clubhouse complexBerth for Clipper 07-08 Round the World Yacht Race

Reflection at Keppel BayReflection at Keppel Bay

Keppel Bay BridgeKeppel Bay Bridge

Marina at Keppel Bay Marina at Keppel Bay

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Singapore CommercialSingapore CommercialRemaking of Office Landscape into Remaking of Office Landscape into AsiaAsia’’s Canary Wharfs Canary Wharf

Marina Bay SuitesMarina Bay Residences

Marina Bay Financial CentreMarina Bay Financial Centre

Total Grade A NLA committed : >50% of 2.9mil sf

Major tenants :

New tenants :

Ocean Financial CentreOcean Financial Centre

Grade A NLA : 850,000 sf

Financing and main contractor secured

Construction to commence in 2008 : Due for completion in 2011

3.8 mil 3.8 mil sfsf NLA Under Development in CBD and New DowntownNLA Under Development in CBD and New Downtown

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Singapore CommercialSingapore CommercialKK--REIT Asia Completes Rights IssueREIT Asia Completes Rights Issue

K-REIT Asia receives Unitholders’ support

96.3% subscription rate

Remaining 3.7% (14.9m units) : - KLL 8.6m units- KCL 6.3m units

Keppel Group’s interest post-rights issue : - KLL 43.6%

- KCL 31.5%

Cost of KLL’s subscription : About $244m

KLL’s net debt / equity ratio :

- Increased to 0.52 from 0.43 (31 Mar 2008)

One Raffles Quay

75.1%

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OverseasOverseasGood Response to New Township LaunchesGood Response to New Township Launches

Total : 9,367 units

81% of 191

launched units sold

Total : 1,048 units

92% of 788

launched units sold

Total : 4,700 units

87% of 728

launched units sold

Jakarta Garden City, Jakarta Garden City, Jakarta, Indonesia Jakarta, Indonesia

The The BotanicaBotanica Ph 3, Ph 3, Chengdu, China Chengdu, China

Central Park City,Central Park City,Wuxi, ChinaWuxi, China

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Overseas Overseas -- VietnamVietnamProgressively Rolling Out HomesProgressively Rolling Out Homes

The Estella, The Estella, HCMC, Vietnam HCMC, Vietnam

Total : 1,500 units

All 650 soft-launched units registered buyer interest

– More than 200 buyers have signed S&P agreement

(In line with local government regulations that piling works have to be completed before sales can take place)

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Overseas Overseas -- IndiaIndiaProgressively Rolling Out HomesProgressively Rolling Out Homes

Total : 1,376 units

350 soft-launched units :

- 78% sold

Official sales launch :

- 2Q 2008

Elita Garden Vista, Elita Garden Vista, Kolkata, IndiaKolkata, India

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Overseas Overseas -- ChinaChinaInvolvement in Development of Tianjin EcoInvolvement in Development of Tianjin Eco--CityCity

Keppel Group to lead Singapore consortium in the development of the Sino-Singapore Tianjin Eco-City

Land size: 30sq km site

Development period: 10-15 years

International model city for sustainable development

Social Social HarmonyHarmony

Resource Resource Efficiency Efficiency

Economic Economic Vibrancy Vibrancy

Environmental Environmental Friendly Friendly

Sustainable Sustainable DevelopmentDevelopment

Balancing ecological rehabilitation with urban developmentBalancing ecological rehabilitation with urban development

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Overseas Overseas –– ChinaChinaJV to Develop Premier Waterfront Development in Pearl River DeltJV to Develop Premier Waterfront Development in Pearl River Delta Regiona Region

80% stake in JV with Hong Kong company, Sunseacan Investment

Total land area : 82 ha (Acquisition will be carried out in phases)

Total GFA : 408,000sm

30% of total land area : Create channels and waterways for berths

First residential cum marina lifestyle project in First residential cum marina lifestyle project in Zhongshan,GuangdongZhongshan,Guangdong

Total Units:

- 300 luxurious villas

- 2,500 condominiums and serviced apartments

Berths : 550 boats

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Overseas Overseas -- VietnamVietnamDevelopment of Saigon Centre Phase 2Development of Saigon Centre Phase 2

Land size : 2 ha

Location : HCMC’s CBD

Development : Mixed-use development

Concept Plan Design : Renowned architect Skidmore, Owings and Merrill

Phase 1 completed in 1996 : – 3-storey retail podium – 11-storey office tower – 89 units of serviced apartments

Construction of Phase 2 : – Scheduled to commence end 2009

Saigon Centre,Saigon Centre,HCMC, VietnamHCMC, Vietnam

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Overseas Overseas -- VietnamVietnamLargest Foreign Developer with Pipeline of 25,000 HomesLargest Foreign Developer with Pipeline of 25,000 Homes

Existing Keppel Land developmentsNew site under option

^ Includes commercial area

201014,0002,743,000^3,667,127Waterfront Township,Dong Nai

25,2254,913,7484,804,236Total

20093,000 789,222^ 640,476 Saigon Sports City, District 2, HCMC

20091,939 273,760 68,442 Condo, District 9, HCMC

20091,500 244,800^ 51,000Prime Condo, District 2, HCMC

20082,394 408,566^ 85,118 Waterfront Condo, District 7, HCMC

2008549 87,140 17,428 Waterfront Condominium, Binh Thanh District, HCMC

20081,500 279,800^ 47,906 The Estella, District 2, HCMC

2009139 33,950 97,000 Luxury Villa Development, District 9, HCMC

2009204 53,510 129,739 Villa Development, District 9, HCMC

Exp.Launch

TotalUnits

Total GFA(sm)

Site Area(sm)Project

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Secured option to develop 1,500 units on 5.1 ha site in DistrictSecured option to develop 1,500 units on 5.1 ha site in District 22

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Fund ManagementFund Management

US$0.6bn (S$1.0bn)

US$1.4bn (S$2.3bn)

US$4.0bn (S$6.1bn)

0.0

0.5

1.0

1.5

2.0

2.5

3.0

3.5

4.0

2004 2005 2006 2007 1Q2008

Total Assets Under Management * ^

Alpha K-REIT Asia

US$2.3bn(S$3.7bn)

US$3.9bn(S$5.9bn)

* When fully leveraged and invested^ Reduction in value due to discontinuation of service contract with Islamic Shariah Fund

KK--REIT AsiaREIT AsiaPortfolio value : S$2.1 bn

AlphaAlpha40 properties in 10 countries

Starting new fund to focus on Asian macro trends

(S$400m) 5 100%

US$243mAsia No. 1 Property Fund

(S$720m) 4 100%

US$437mAlpha Core Plus Real Estate Fund

(S$258m) 1 26%

US$172mAIB Alpha Japan Fund

No. of Countries

Invested in

% Invested

Committed EquityFunds

Total Assets Under Management of S$5.9 Total Assets Under Management of S$5.9 bnbn * ^* ^

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Market Review Market Review and Outlookand Outlook

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Singapore Residential MarketSingapore Residential Market

Price index up 3.7%3.7% in 1Q 2008 (URA)

Take-up of 762 units in 1Q 2008 (URA)

GDP grew 7.2%7.2% in 1Q 08, beating expectations (MTI flash estimate)

A strong Sing dollar to ease inflationary pressures

Target population growth to 5.5–6.5 mil Increasing number of foreign buyers En-bloc displacement demand Low mortgage interest rates

Home sales volume and prices moderatingHome sales volume and prices moderating

Market sentiment cautious but optimisticMarket sentiment cautious but optimistic

Healthy fundamentals to sustain demandHealthy fundamentals to sustain demand

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Singapore Office MarketSingapore Office Market

Grade A average rental of $18.65 $18.65 psfpsf in 1Q 08, up 8.7%8.7% y-o-y (CBRE)

Grade A occupancy of 99.4%99.4% (CBRE)

Broad-based demand coming from legal, IT and energy sectors, in addition to financial institutions

Limited supply of 1.8m sf p.a. over next few years

Healthy level of occupier pre-commitment in many of the new developments

Rentals and occupancy continue to rise Rentals and occupancy continue to rise

Positive absorption of office space expectedPositive absorption of office space expected

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Economic Economic GrowthGrowth

Favourable Favourable DemographicsDemographics

Growing Growing Middle ClassMiddle Class

Rising Rising AffluenceAffluence

Urbanisation Urbanisation TrendsTrends

Overseas Overseas Positive Residential Markets in Asia and Middle EastPositive Residential Markets in Asia and Middle East

•• ChinaChina

•• IndiaIndia

•• VietnamVietnam

Healthy domestic demand to sustain economic performance

Sustained economic growth of 8% p.a. for past 5 years

On track to achieve GDP growth target China : 11.9% India : 9%

Home Ownership Aspirations

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Going ForwardGoing Forward

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Going ForwardGoing Forward

SINGAPORESINGAPORE

Selectively acquire commercial and residential sites

OVERSEASOVERSEAS

Continue to pursue residential and township

developments

FUND MGTFUND MGT

Grow funds under management through

Alpha and K-REIT Asia

Unlock value from commercial assets Unlock value from commercial assets in Singapore and overseasin Singapore and overseas

Recycle capital into new projects with higher returnsRecycle capital into new projects with higher returns

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* Planned balance units

Reflections at Keppel BayReflections at Keppel Bay Marina Bay SuitesMarina Bay Suites

Singapore ResidentialSingapore ResidentialMonitor Market Conditions and Launch AppropriatelyMonitor Market Conditions and Launch Appropriately

Project Location Units to LaunchReflections at Keppel Bay (30% stake) * Keppel Bay 400Park Infinia at Wee Nam * Wee Nam Rd 52Marina Bay Suites (33.3% stake) Marina Bay 221The Crest @ Cairnhill Cairnhill Circle 15The Tresor * Duchess Rd 34Madison Residences Bukit Timah Rd 56Total 778

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KLL's Office Occupancy Rates

81.1%89.6% 91.3% 94.8% 95.4%

0%

20%

40%

60%

80%

100%

2004 2005 2006 2007 1Q 2008

Including Ocean Towers, Equity Plaza and Keppel Bay Tower

Dominant prime office landlord, KLL will benefit from tight office supply over next few years

Portfolio lease expiry profile positions positively for rental reversions

Broad tenant diversity provides stable rental income

Singapore CommercialSingapore CommercialTap on Robust Demand for Office SpaceTap on Robust Demand for Office Space

34* Balance units^ New launches

Mixed Development, JiangyinThe Arcadia, TianjinThe Arcadia, Tianjin Villa Riviera, Shanghai

Overseas ResidentialOverseas ResidentialLaunch about 10,000 units in China over the next 3 yearsLaunch about 10,000 units in China over the next 3 years

2008 2009 2010China 8 Park Avenue, Shanghai * 2 35 35 Villa Riviera, Shanghai * 92 - - The Botanica, Chengdu * 846 1,000 1,000 The Arcadia, Tianjin ^ 134 - - Central Park City, Wuxi * 822 801 829 Mixed Development, Jiangyin ^ 335 323 296 Residential Township, Shenyang ^ - 1,000 718

Residential Devt., Nanhui, Shanghai ^ - 608 699

Total 2,231 3,767 3,577

Project Launch Schedule Units to Launch

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35* Balance units^ New launches

Overseas ResidentialOverseas ResidentialLaunch about 4,000 units in Asia exLaunch about 4,000 units in Asia ex--China in 2008China in 2008Project Launch Schedule

2008 2009 2010Vietnam Saigon Sports City (Ph 1), HCMC ^ - 205 300 The Estella, HCMC * 672 450 150 Waterfront condo, Binh Thanh District, HCMC ^ - 350 199 Waterfront condo, District 7, HCMC ^ 550 150 350 Waterfront township (Ph 1), Dong Nai Province ^ - - 300 Prime condo, District 2, HCMC ^ - 350 350 Villa devt., District 9, HCMC ^ - 100 104 Prime condo, District 9, HCMC ^ - 300 350 Luxury villa devt., District 9, HCMC ^ - 100 39Thailand Villa Arcadia at Srinakarin, Bangkok * 45 50 50 Villa Arcadia at Watcharapol, Bangkok ^ 40 40 40India Elita Promenade, Bangalore * 357 - - Elita Horizon, Bangalore ^ 370 401 201 Elita Garden Vista, Kolkata * 688 227 90Indonesia Jakarta Garden City, Jakarta * 468 714 735Middle East Seafront condo devt., Jeddah, Saudi Arabia ^ 180 300 300Philippines Palmdale Heights (Ph 2), Pasig City ^ 316 474 474 SM-KL residential devt., Manila ^ - 430 -Total 3,686 4,641 4,032

Units to Launch

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Overseas ResidentialOverseas ResidentialUpcoming LaunchesUpcoming Launches

Total : 1,142 units

Launch : 2H 2008

Total : 1,000 units

Launch : 2H 2008

Total : 2,394 units

Launch : 4Q 2008

Elita HorizonElita HorizonBangalore, India

Seafront ApartmentsSeafront Apartments

Jeddah, Saudi ArabiaWaterfront Condo, District 7Waterfront Condo, District 7

HCMC, Vietnam

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Thank YouThank You

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Additional InformationAdditional Information

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3.562.560.3Net Profit

nm(5.7)(0.7)Others

nm(0.5)0.1Hotels / Resorts

500.00.74.2Fund Management

(33.9)11.57.6Property Investment

(13.1)56.549.1Property Trading

Comments Comments % Chg% Chg1Q20071Q2007$m$m

1Q20081Q2008$m$mBusiness SegmentBusiness Segment

Lower due mainly to completion of several projects in Singapore (Urbana and The Belvedere) and China (The Waterfront) and lower contribution from The Sixth Avenue Residences and Marina Bay Residences in Singapore, Vi l la Riviera (Vietnam), and The Seasons and Villa Riviera in China

Lower due mainly to lower revenues from Ocean Building which is currently undergoing redevelopment and write-back of tax provis ion in 1Q2007

Higher due largely to higher fees earned from enlarged fund managed by Alpha Investment Partners and K-REIT Asia

Higher due to better performance andlower depreciation charge

Better due to lower interest expense and absence of fair value loss on interest rate hedging instruments

Net Profit Net Profit –– By Business SegmentBy Business Segment

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(3.5)10062.510060.3Net Profit

0.027.717.328.717.3Other Countries

(4.9)72.345.271.343.0Singapore

%%$m$m%%$m$mCommentsComments

% %

ChgChg

1Q20071Q20071Q20081Q2008Geographical Geographical LocationLocation

Lower due to completion of several projects and fewer property launches

Unchanged due to completion of several projects in China

Net Profit Net Profit –– By Geographical LocationBy Geographical Location

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(63.6)1.180.43Net Debt / Equity (x)

(50.2)2.331.16Net Debt ($b)

35.41.982.68Equity ($b)

% Chg% Chg1Q20071Q20071Q20081Q2008

Capital ManagementCapital Management

Gearing has improved to 43% from 118% a year agoGearing has improved to 43% from 118% a year ago

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(91.3)4423% Fixed Rate Debt

(21.9)4.13.2Avg Interest Rate of Borrowings (%)

(100.9)2.331.16Net Debt ($b)

% Chg% Chg1Q20071Q20071Q20081Q2008

Debt ManagementDebt Management

14% of debt due within 1 year14% of debt due within 1 year

Average loan life: 3 yearsAverage loan life: 3 years

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Attributable AttributableLand Area GFA

(%) (sf) (sf)

The Tresor * Duchess Rd 100% 999-yr 80,504 112,689 62Reflections at Keppel Bay * Keppel Bay 30% 99-yr 269,930 624,521 1,129Marina Bay Suites Marina Bay 33.3% 99-yr 19,015 156,462 221The Crest @ Cairnhill Cairnhill Circle 100% Freehold 11,183 31,310 15Madison Residences Bukit Timah Rd 100% Freehold 49,168 110,810 56Keppel Bay Plot 3 Keppel Bay 30% 99-yr 125,366 152,999 307Keppel Bay Plot 4 Keppel Bay 11.7% 99-yr 36,114 40,300 234Keppel Bay Plot 6 Keppel Bay 30% 99-yr 141,429 67,813 94Total 732,709 1,296,904 2,118

Project Location Tenure Total Units

KLL's Stake

* Includes units and area sold

Singapore Residential Singapore Residential LandbankLandbankAbout 1.3 mil About 1.3 mil sfsf (120,400 (120,400 smsm) of attributable GFA) of attributable GFA

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Project Location Stake Land Area Total GFA Remaining Area Remaining Units (%) (sm) (sm) For Sale (sm) For Sale

8 Park Avenue Shanghai 99% 33,432 133,393 65,706 * 397Park Avenue Central Shanghai 99% 28,488 99,708 99,708 708Villa Riviera Shanghai 99% 153,726 53,796 24,770 * 92The Arcadia Tianjin 100% 133,400 61,687 59,263 * 134Central Park City Wuxi 49.7% 352,534 670,460 ^ 576,657 4,386The Botanica Chengdu 44.1% 417,139 1,036,747 673,022 5,321Mixed development Jiangyin 70.6% 82,987 247,733 247,733 1,218Residential township Shenyang 100% 235,530 471,488 ^ 440,929 3,914Residential devt,.Nanhui Shanghai 99% 264,090 332,906 314,340 3,000Total 1,701,326 3,107,918 2,502,128 19,170

* Excludes area and units sold^ Includes commercial area

China Residential China Residential LandbankLandbankAbout 26.9 mil About 26.9 mil sfsf (2.5 mil (2.5 mil smsm) of saleable area) of saleable area

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* Estimates^ Excludes commercial area and office units

Site Location Evergro's Land Area Total GFA Remaining Area RemainingStake (%) (sm) (sm) For Sale (sm) Units For Sale

Residential Devt Tianjin-South Island 100% 545,928 240,000 * 208,304 * 710 *Mixed Devt Tianjin-North Island 100% 1,066,665 na na naMixed Devt Changzhou 100% 46,108 87,389 36,823 301Mixed Devt Jiangyin 44% 82,987 305,853 301,180 1,218 ^

Total 1,741,688 633,242 546,307 2,229

EvergroEvergro LandbankLandbankMore than 5.9 mil More than 5.9 mil sfsf (0.5 mil (0.5 mil smsm) of saleable area) of saleable area

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Stake Area (sm) (sm) For Sale (sm) Units For SaleIndia Elita Promenade, Bangalore 51% 96,618 193,237 54,197 * 357 *

Elita Horizon, Bangalore 51% 79,177 158,354 158,354 1,142Elita Garden Vista, Kolkata 37.7% 93,998 187,996 148,482 * 1,005 *

Sub-total 269,793 539,587 361,033 2,504Indonesia Jakarta Garden City, Jakarta - Ph 1 144,510 173,412 123,442 * 841 *

Jakarta Garden City - Remaining Phases 758,428 1,283,874 1,058,924 8,373Sub-total 902,938 1,457,286 1,182,366 9,214

Thailand Villa Arcadia at Srinakarin, Bangkok 45.5% 159,706 84,440 79,016 * 249 *Villa Arcadia at Watcharapol, Bangkok 66.7% 124,912 68,314 83,060 * 262 *

Sub-total 284,618 152,754 162,076 511Vietnam Saigon Sports City, HCMC 90% 640,476 789,222 ^ 442,042 3,000

The Estella, HCMC 55% 47,906 279,800 ^ 177,103 1,272 *

Waterfront condo, Binh Thanh District, HCMC 60% 17,428 87,140 87,140 549Waterfront condo, District 7, HCMC 75% 85,118 408,566 ^ 340,472 2,394Waterfront township, Dong Nai Province 50% 3,667,127 2,743,000 ^ 2,688,140 14,000Prime condo, District 2, HCMC 60% 51,000 244,800 ^ 166,464 1,500Villa devt., District 9, HCMC 55% 129,739 53,510 71,356 204Prime condo, District 9, HCMC 55% 68,442 273,760 232,702 1,939Luxury villa devt., District 9, HCMC 60% 97,000 33,950 33,950 139

Sub-total 4,804,236 4,913,748 4,239,369 24,997Middle East Seafront condo devt., Jeddah, Saudi Arabia 51.0% 36,236 253,652 253,652 1,000

Sub-total 36,236 253,652 253,652 1,000Philippines Palmdale Heights (Ph 2), Pasig City 30.9% 15,976 62,751 62,751 1,264

SM-KL residential devt., Manila 24.2% 7,068 56,000 56,000 430Sub-total 23,044 118,751 118,751 1,694

Total 6,320,865 7,435,778 6,317,247 39,920

51%

* Excludes area and units sold^ Includes commercial area and units

Other Overseas Residential Other Overseas Residential LandbankLandbankAbout 68.8 mil About 68.8 mil sfsf (6.4 mil (6.4 mil smsm) of saleable area (ex) of saleable area (ex--China)China)

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* Office tower to be demolished upon completion of Ocean Financial Centre

KLL's TotalStake NLA (sf)

Completed Ocean Towers* 75.7% 229,481Equity Plaza 64.6% 249,165Keppel Bay Tower 11.7% 387,676HarbourFront Tower One 11.7% 370,551HarbourFront Tower Two 11.7% 154,688Subtotal 1,391,561

Under Development Marina Bay Financial Centre (Phase 1) 33.3% 1,620,000Marina Bay Financial Centre (Phase 2) 33.3% 1,300,000Ocean Financial Centre 75.7% 850,000Subtotal 3,770,000

Total 5,161,561

Building

Singapore Commercial Singapore Commercial LandbankLandbankPrime office portfolio with about 5.2 mil Prime office portfolio with about 5.2 mil sfsf NLANLA

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ChinaSaudi

ArabiaIndia

Bangalore, KolkataBangalore, KolkataJeddahJeddah

ShanghaiBeijingChengduTianjinWuxiShenyangJiangyinChangzhouZhongshan

ShanghaiBeijingChengduTianjinWuxiShenyangJiangyinChangzhouZhongshan

Ho Chi Minh CityDong NaiJakartaBangkokManilaPasig CityJohor

Ho Chi Minh CityDong NaiJakartaBangkokManilaPasig CityJohor

South-East Asia

OverseasOverseasExtensive Home ReachExtensive Home Reach

Total Total landbanklandbank of 100 mil of 100 mil sfsf with a pipeline of 60,000 homeswith a pipeline of 60,000 homes

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Singapore EconomySingapore Economy

Integrated ResortsIntegrated Resorts– Marina Bay Sands IR : 1.2m sf GFA of exhibition and meeting space

: ready in 2009– Resorts World at Sentosa : Universal Studios theme park

: ready in 2010

Formula One Night RaceFormula One Night Race– Expected tourism receipts of about $100m p.a.– Commencing Sep-08

Youth Olympics 2010Youth Olympics 2010– Businesses expected to benefit

Singapore FlyerSingapore Flyer– Expected to draw 2.5m visitors in first year : Opened Mar-08

ChangiChangi Airport Terminal 3 : opened in JanAirport Terminal 3 : opened in Jan--08 08 – Increased airport’s capacity by 45% to handle 70m passengers p.a.

International Cruise Terminal at Marina South : ready by 2010International Cruise Terminal at Marina South : ready by 2010

Revenue GeneratorsRevenue Generators

Excellent InfrastructureExcellent Infrastructure

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This release may contain statements which are subject to risks and uncertainties that could cause actual results to differ materially from such

statements. You are cautioned not to place undue reliance on such statements, which are based on the current views of Management on

future developments and events.