General Announcement::BT Article on 27 May 2016 titled "CDL attempts third PPS deal, this time with top-end condos"

Issuer & Securities

Announcement Title: General Announcement
Date &Time of Broadcast: 27-May-2016 17:20:24
Status: New
Announcement Sub Title: BT Article on 27 May 2016 titled "CDL attempts third PPS deal, this time with top-end condos"
Announcement Reference: SG160527OTHRWFH5
Submitted By (Co./ Ind. Name): Enid Ling
Designation: Company Secretary
Description (Please provide a detailed description of the event in the box below): We refer to the abovementioned article which appeared on pages 1 and 2 of The Business Times edition of 27 May 2016, and wish to inform as follows:

Like all real estate companies in the current climate, City Developments Limited ("CDL" or the "Company") continually evaluates numerous alternatives for preserving value. Whilst the Company is constantly reviewing ways to optimize its portfolio and recycle capital, it wishes to clarify that this potential project is one of several PPS structures that the Company is exploring and is at a very preliminary stage.

No definitive agreements have been entered into and there is no assurance that this potential PPS project will materialize in the near term. There is also no certainty at this preliminary stage on the final salient terms for this potential PPS project if and when finalized.

The Company will make further announcements if and when any deal on this subject materializes.

By Order of the Board

Shufen Loh @ Catherine Shufen Loh
Enid Ling Peek Fong
Company Secretaries
27 May 2016