NEWS RELEASE
For Immediate Release

Tuesday, 31 October 2006 - The groundbreaking ceremony for the Orchard Turn development this morning unveiled an iconic architectural and experiential concept for Orchard Road.

Seated on the ultimate prime site of Singapore's commercial and shopping artery, at the junction of Orchard Road and Paterson Road, the Orchard Turn retail-cum-luxury-residential development is one of the most anticipated projects in Singapore. A 50:50 joint venture between CapitaLand Ltd and Hong Kong's Sun Hung Kai Properties Ltd, the development is embraced as an opportunity not only to enhance its status as one of the world's great shopping streets, but also to dynamically re-imagine cosmopolitan Orchard Road.

UK-based form and concept architects, Benoy, drew inspiration for Orchard Turn's concept and design from the site's heritage as a nutmeg plantation and a fruit orchard. The building's form is reminiscent of an ever-blooming orchard and is designed to relate the experience of going through the building to that of a journey through nature: the facade of the retail podium of Orchard Turn has a curvilinear flow that pulls away its 'skin' to reveal a 'seed', from which a stem evolves into the residential tower.

Slated for completion at end-2008 and end-2009 respectively, Orchard Turn's retail and residential components will bring to Singapore unprecedented shopping and lifestyle experiences.

Envisaged as an iconic, must-visit top retail destination in Asia, Orchard Turn will be a world-class retail mall with more than 450 shops and restaurants providing an engaging multi-sensory retail and entertainment experience that will re-define shopping on Orchard Road.

The residences of Orchard Turn will feature 177 super luxury apartments with modern lifestyle facilities, housed in the tallest and most architecturally-definitive landmark on Orchard Road. Reaching a commanding height of 218 metres, the residential tower will offer homes with panoramic, 360-degree, unobstructed views of the island - a re-definition of 'high-end living' in the most coveted residential address in Singapore. This will be an exceptionally important draw for the discerning investor looking to add to his collection of prestigious homes globally.

'We want this new urban contribution to bring energy and fresh excitement to Orchard Road,' says Soon Su Lin, Chief Executive Officer of Orchard Turn Developments Pte Ltd, development manager of the project. 'Thanks to Benoy's vibrant and interactive building facade design, Orchard Turn will be a must-visit destination for visitors and a natural focal point for Singaporeans. We also draw inspiration from Benoy's design concept based on the idea of 'growth' - as retailing is always evolving, renewing, and able to surprise and delight. We are very excited to play a lead part in creating an internationally-acclaimed mall that will enhance Singapore's status as a world-class city, and attract new and innovative global brands and retailers to Singapore.'

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