MR LIM MING YAN APPOINTED AS CAPITALAND GROUP PRESIDENT & CEO

(Singapore, 9 October 2012 ) CapitaLand Limited (CapitaLand) today announced the appointment of Mr Lim Ming Yan as President and Chief Executive Officer (CEO) of CapitaLand Group with effect from 1 January 2013. He will take over from Mr Liew Mun Leong who will relinquish his appointment as Group President and CEO from 1 January 2013. Mr Lim will also be appointed as Director of CapitaLand on 1 January 2013.

Mr Lim is currently CapitaLand's Chief Operating Officer (COO), a position he has held since 6 May 2011. He is also the Deputy Chairman of CapitaLand China Executive Committee. He was CEO of CapitaLand China Holdings from 2000 to 2009 where he grew CapitaLand into a leading foreign real estate developer in China. He then returned to Singapore to helm CapitaLand’s serviced residence business, The Ascott Limited (Ascott). As Ascott CEO, he successfully operated and implemented projects in Southeast Asia, China, India, the Middle East and Europe. On 6 February 2012, he relinquished his position at Ascott to focus on his role as CapitaLand's COO.

As the new CEO is a senior member of the management team and therefore is familiar with the business of the company, Mr Liew will be stepping down from 1 January 2013 to hand over the leadership of the Group to Mr Lim. Mr Liew will also ensure a smooth transition. He will stay on as a Director of CapitaLand until its next Annual General Meeting scheduled on 26 April 2013 and remain in the employment of CapitaLand until his last day of service on 27 June 2013.

Mr Ng Kee Choe, Chairman of CapitaLand Board, said: “It is my pleasure to announce that Ming Yan will succeed Mun Leong as CapitaLand's Group President and CEO. The Board unanimously chose Ming Yan after an extensive search where both internal and external candidates were reviewed. A tested and proven member of CapitaLand's management team for more than a decade, Ming Yan will provide continuity and leadership to advance the Group’s business and growth. I would like to thank Mun Leong for leading the Group for the last 16 years since taking over the helm at Pidemco Land which later merged with DBS Land to form CapitaLand in 2000. He has nurtured and led CapitaLand to become one of the largest real estate group in Asia. He has built a strong foundation to underpin the future well-being of the Group. I am confident that Ming Yan will continue the impressive progress made in the last 16 years during Mun Leong’s tenure.”

Mr Liew Mun Leong said: “I am glad to hand over the baton to Ming Yan who has a proven track record of delivering stellar results in China and Ascott. I am pleased that my successor is a member of our management team who has come through our succession planning and leadership development process. Ming Yan has worked with me for the last 16 years and I am confident of his strength and capabilities to lead the Group. He is also familiar with CapitaLand’s core values and corporate principles, that is, our CapitaDNA. I am confident that the management team with Ming Yan at the helm will be able to bring the Group to the next phase of growth. It has been deeply fulfilling to work with a talented management team, many of whom, including Ming Yan, I personally recruited and nurtured. I am glad that I can make way for Ming Yan to assume the CEO role as early as possible. I will ensure a smooth handing over and provide the necessary guidance before I leave CapitaLand to pursue other interests.”

Mr Lim Ming Yan said: “It has been deeply satisfying to work alongside capable and talented colleagues. I am honoured to succeed Mr Liew. He is a highly respected founding CEO of CapitaLand and has led the company to much success over the years. Together with a strong management team and continued guidance from the Board of directors, we will build on the foundation that Mr Liew has laid for the Group's sustainable long term growth."

Mr Lim, 49, was named Outstanding Chief Executive (Overseas) at the Singapore Business Awards in 2006. He was conferred the prestigious Magnolia Award by the Shanghai Municipal Government in 2003 and 2005 for his significant contributions to Shanghai. Mr Lim graduated from the University of Birmingham, UK, in 1985 with a Bachelor of Science (First Class Honours) in Mechanical Engineering and Economics. He attended the Advanced Management Programme at Harvard Business School in 2002.

CapitaLand is one of the largest real estate players in Asia with a diversified portfolio, which includes homes, offices, shopping malls, serviced residences and mixed developments, spanning more than 110 cities in over 20 countries. In the last six years, it achieved more than S$1 billion in annual net profit. As at end June 2012, the Group’s assets under management amounted to about S$62 billion.

About CapitaLand Limited
CapitaLand is one of Asia’s largest real estate companies. Headquartered and listed in Singapore, the multi-local company's core businesses in real estate, hospitality and real estate financial services are focused in growth cities in Asia Pacific and Europe.

The company's real estate and hospitality portfolio, which includes homes, offices, shopping malls, serviced residences and mixed developments, spans more than 110 cities in over 20 countries. CapitaLand also leverages on its significant asset base, real estate domain knowledge, financial skills and extensive market network to develop real estate financial products and services in Singapore and the region.

The listed entities of the CapitaLand Group include Australand, CapitaMalls Asia, CapitaMall Trust, CapitaCommercial Trust, Ascott Residence Trust, CapitaRetail China Trust, CapitaMalls Malaysia Trust and Quill Capita Trust.