MEDIA RELEASE

Sentosa Cove Awards Its Lakefront Collection To Malyasia's YTL Corporation Berhad

SINGAPORE, 14 September 2006 – Sentosa Cove has awarded its Lakefront Collection (an en bloc sale of 15 bungalow land parcels) to YTL Corporation Berhad for $50,156,813 or $378psf.

YTL Corporation Berhad – one of the largest companies listed on the Kuala Lumpur Stock Exchange and Malaysia's leading integrated conglomerates - will undertake the development of 12 luxury villas with LP World Sdn Bhd, another Malaysian township and residential developer.

This will be YTL Corporation Berhad's first foray in property development in Singapore , and the second Malaysian real estate company to invest and develop within Sentosa Cove. IJM Properties, developing a cluster of 8 terrace houses, was the first Malaysian developer on Sentosa Cove.

An Expressions of Interest exercise for the Lakefront Collection was launched on 10 July and closed on 7 August 06.

~ END ~