Attached is the announcement by GuocoLand (Malaysia) Berhad (“GLM”) relating to the disposal of the entire 100% equity interest in Guoman (Hanoi) Limited by Guoman Hotels Limited (“GHL”), an indirect 70% subsidiary of GLM (the “Disposal”). GuocoLand Limited (“GLL”), through its wholly owned subsidiaries, owns a 30% interest in GHL and a 64.98% interest in GLM. The Disposal will result in a net gain of approximately S$12.8 million which will be recognised in the Group’s profit and loss accounts in the current financial year ending 30 June 2007. Based on the audited consolidated financial statements of the Group for the financial year ended 30 June 2006, the Disposal is expected to result in an increase in the earnings per share from 24.43 cents to 26.44 cents. The Disposal is not expected to have a material impact on the net tangible assets per share of the Group. GLL is not aware of any of its Directors or substantial shareholders having any interest, direct or indirect in the Disposal.