IOI Corporation Berhad : OTHERS IOI Corporation Berhad ("IOI Corp" or the "Company") Acquisition of Subsidiary

The Board of Directors of IOI Corp is pleased to announce that IOI Properties Group Berhad, a wholly-owned subsidiary of the Company, had on 28November 2013 acquired 2 ordinary shares of RM1.00 each, representing 100% of the total issued and paid-up share capital in IOIP Capital Management Sdn Bhd ("IOIP Capital Management") from Mr Lee Yeow Seng ("Mr Lee") and Mr Teah Chin Guan @ Teh Chin Guan for a total cash consideration of Ringgit Malaysia Two (RM2.00) only (the "Acquisition").Following the Acquisition, IOIP Capital Management has become an indirect wholly-owned subsidiary of IOI Corp.

IOIP Capital Management was incorporated on 22 November 2013 as a private limited company under the Companies Act, 1965 and is currently dormant.

Vertical Capacity Sdn Bhd ("VCSB") is a Major Shareholder of IOI Corp. Progressive Holdings Sdn Bhd ("PHSB"), which holds 100% equity interest in VCSB, is a company connected to Tan Sri Dato' Lee Shin Cheng ("Tan Sri Lee").

Tan Sri Lee, Dato' Lee Yeow Chor ("Dato' Lee") and Mr Lee are the Directors and deemed Major Shareholders of IOI Corp. Dato' Lee and Mr Lee are the sons of Tan Sri Lee, while Mr Lee Cheng Leang is a Director of IOI Corp and a brother of Tan Sri Lee. Puan Sri Datin Hoong May Kuan, who is the spouse of Tan Sri Lee, and PHSB arethe deemed Major Shareholders of IOI Corp.

Save as disclosed, none of the other Directors and/or Major Shareholders of IOI Corp and/or persons connected to them has any interest, direct or indirect in the Acquisition.

This announcement is dated28November 2013.