ACQUISITION OF UNITS IN KEPPEL REIT

Keppel Corporation Limited (the "Company") wishes to announce that its subsidiary, Keppel REIT Investment Pte. Ltd. ("KRI") has acquired 5,985,399 units in Keppel REIT ("Management Fee Units"). These Management Fee Units constitutes payment by Keppel REIT of:
(a) 100% of the management fee due to KRML (as the manager of Keppel REIT) in respect of
Keppel REIT's 50% interests in 8 Exhibition Street, Melbourne for the period from 1 April
2014 to 30 June 2014;
(b) 100% of the management fee due to KRML (as the manager of Keppel REIT) in respect of
Keppel REIT's approximate 87.51% interest in Ocean Properties LLP for the period from
1 April 2014 to 30 June 2014;
(c) 50% of the management fee due to KRML (as the manager of Keppel REIT) in respect of Keppel REIT's approximate 12.39% interest in Ocean Properties LLP acquired from Avan Investments Pte Ltd as announced by KRML on 25 June 2012 for the period from
1 April 2014 to 30 June 2014; and
(d) 50% of the management fee due to KRML (as the manager of Keppel REIT) in respect of the other portfolio properties owned by Keppel REIT for the period from 1 April 2014 to 30 June
2014;
The Management Fee Units were issued at a price of S$1.2702 per unit which was arrived at based on the volume weighted average price for a unit in Keppel REIT for all trades done on the Singapore Exchange Securities Trading Limited in the ordinary course of trading for the period of 10 business days immediately preceding 30 June 2014, being the last business day for the period.
This mode of payment of the management fee in the form of units in Keppel REIT is in accordance with the provisions of the trust deed dated 28 November 2005 (as amended from time to time) constituting Keppel REIT.
With this transaction, the Company's deemed interest in Keppel REIT has increased from approximately 45.02%* (comprising 1,261,072,654 units) to 45.14%** (comprising 1,267,058,053 units).
The above transaction is not expected to have any significant impact on the earnings per share and net tangible asset per share of the Company for the current financial year.
30 July 2014

Note:

• The percentage is calculated based on the total number of issued units in Keppel REIT of 2,800,989,547 units as al30 Aprii 2014.

**The percentage is calculated based on the total number of issued units in Keppel REIT of 2,806,974,946 units as al30 July 2014.

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