Singapore

Temasek Holdings (“Temasek”) is offering 264,093,000 existing units of CapitaCommercial Trust (“CCT”), representing 29.5% of the existing units of CCT.

Ms Eleana Tan, Managing Director of Finance, Temasek said: “We have seen strong demand for the CCT units. This offering will improve the liquidity of CCT units and widen the investor base, which we believe will benefit all unit holders.”

DBS is the financial advisor and underwriter of the offering. The offering will comprise a private placement of 200,000,000 units to local and overseas institutional investors and an ATM offering of 64,093,000 units to retail investors on a “first-come, first-served” basis. The ATM offering will be available through the ATMs of DBS Bank (including POSB ATMs) on 17 June 2005 starting from 10.00 am onwards and close upon full subscription.

In October 2003, Singapore Technologies, offered S$451 million of exchangeable notes due 2010 exchangeable initially into shares of CapitaLand and subsequently adjusted to include units of CCT (“CapitaLand Exchangeable Note Programme”). At the close of today’s offering of CCT units, Temasek will continue to hold 18,795,721 CCT units to satisfy the exchangeable note conversions in connection with the CapitaLand Exchangeable Note Programme.

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For media enquiries, please contact:

Rachel Lin
Associate Director, Corporate Communications
Temasek Holdings (Pte) Ltd
Tel: (65) 6828 6766
Mobile: (65) 96661855
Email: rachellin@temasek.com.sg
Website: www.temasek.com.sg