COMPLETION OF EN BLOC PURCHASE OF SOPHIA COURT

COMPLETION OF EN BLOC PURCHASE OF SOPHIA COURT

The Company refers to its announcement of 8 December 2006 in relation to the conditional en bloc purchase of Sophia Court, a freehold property comprised in Lots 420X and 406M both of Town Subdivision 19. GuocoLand Limited (“GLL”) wishes to announce that its wholly-owned subsidiary, Sophia Residence Development Pte. Ltd. has as at 5 September 2007 completed the en bloc acquisition of Sophia Court for a total purchase consideration of $230 million (the “Acquisition”).

The site is slated for the development of Sophia Residence, which will have a gross floor area of 32,413 square metres. Sophia Residence is located at Mount Sophia in the vicinity of Orchard Road, within walking distance of the Dhoby Ghaut MRT station.

The Acquisition was financed by internal resources, bank borrowings and from part of the net proceeds from the Company’s recent Rights Issue.

The Acquisition is not expected to have any material effect on the net tangible assets per share or earnings per share of the GLL Group for the current financial year ending 30 June 2008.
The Company refers to its announcement of 8 December 2006 in relation to the conditional en bloc purchase of Sophia Court, a freehold property comprised in Lots 420X and 406M both of Town Subdivision 19. GuocoLand Limited (“GLL”) wishes to announce that its wholly-owned subsidiary, Sophia Residence Development Pte. Ltd. has as at 5 September 2007 completed the en bloc acquisition of Sophia Court for a total purchase consideration of $230 million (the “Acquisition”).

The site is slated for the development of Sophia Residence, which will have a gross floor area of 32,413 square metres. Sophia Residence is located at Mount Sophia in the vicinity of Orchard Road, within walking distance of the Dhoby Ghaut MRT station.

The Acquisition was financed by internal resources, bank borrowings and from part of the net proceeds from the Company’s recent Rights Issue.

The Acquisition is not expected to have any material effect on the net tangible assets per share or earnings per share of the GLL Group for the current financial year ending 30 June 2008.