CLARIFICATION ANNOUNCEMENT IN RELATION TO DEALINGS DISCLOSURE DATED 27 MARCH 2015

Unless otherwise defined, all capitalised terms used and not defined herein shall have the same meanings given to them in the announcement dated 23 January 2015 in relation to the voluntary unconditional cash offer (the "Offer") by DBS Bank Ltd. and Credit Suisse (Singapore) Limited, for and on behalf of Keppel Corporation Limited ("Kep Corp"), for all the issued ordinary shares in the capital of Keppel Land Limited ("Shares") other than those already owned, controlled or agreed to be acquired by the Kep Corp as at the date of the Offer.

On 27 March 2015, Kep Corp reported the dealing in 37,333,850 Shares by BlackRock, Inc.

("BlackRock") on 26 March 2015, which resulted in a decrease in BlackRock's holdings of Shares. This transaction represents BlackRock's acceptance of the Offer.

Issued by

BlackRock, Inc. 31 March 2015

1

distributed by