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Notice Of A Change In The Percentage Level Of A Substantial Shareholder's Interest

BackAug 29, 2012
Part I
1. Date of notice to issuer 29/08/2012
2. Name of Substantial Shareholder The Estate of the late Mr Ng Teng Fong (the "Estate")
3. Notice Type Notice of a Change in the Percentage Level of a Substantial Shareholder's Interest or Cessation of Interest.
Part II - Not Required
Part III
1. Date of change of Interest 27/08/2012
2. The change in the percentage level From 100 % To 39.0 %
3. Circumstance(s) giving rise to the interest or change in interest # Others

Prior to the initial public offering of Far East Hospitality Trust ("Far East H-Trust") on 27 August 2012, Golden Development Private Limited ("GDPL") held 1 Stapled Security which was issued upon the constitution of Far East Hospitality Real Estate Investment Trust ("Far East H-REIT") and Far East Hospitality Business Trust ("Far East H-BT") on 1 August 2012. GDPL is 99.9% owned by the Estate. The Estate was therefore deemed to be interested in the 1 Stapled Security held by GDPL.

On 27 August 2012, 289,289,999 Stapled Securities were issued to GDPL as part consideration for the sale of certain properties to Far East H-REIT.

In addition, on 27 August 2012, 154,481,000 Stapled Securities were issued to Oxley Hill Properties Pte Ltd as part consideration for the sale of certain properties to Far East H-REIT. GDPL holds a 100% direct interest in Oxley Hill Properties Pte Ltd. Accordingly, GDPL has a deemed interest in the 154,481,000 Stapled Securities held by Oxley Hill Properties Pte Ltd.

Therefore, as at the date of this notification, GDPL has a direct interest in 289,290,000 Stapled Securities and a deemed interest in 154,481,000 Stapled Securities. This does not take into account 65,873,000 Stapled Securities which will be lent by GDPL to DBS Bank Ltd. (the stabilising manager for the initial public offering of Far East H-Trust) pursuant to the Stapled Securities lending agreement entered into between GDPL and DBS Bank Ltd. on 16 August 2012.

GDPL is 99.9% owned by the Estate. The Estate is therefore deemed to be interested in the 443,771,000 Stapled Securities in which GDPL has an interest.

In addition, Far East Organization Centre Pte. Ltd. has a direct interest in 182,307,000 Stapled Securities. Far East Organization Centre Pte. Ltd. is 96.15% owned by the Estate. The Estate is therefore deemed to be interested in the 182,307,000 Stapled Securities in which Far East Organization Centre Pte. Ltd. has an interest.
4. A statement of whether the change in the percentage level is the result of a transaction or a series of transactions: The change in the percentage level is the result of the series of transactions described above.
Part IV
1. Holdings of Substantial Shareholder, including direct and deemed interest :
 
  Direct Deemed
No. of shares held before the change 0 1
As a percentage of issued share capital 0 % 100 %
No. of shares held after the change 0 626,078,000
As a percentage of issued share capital 0 % 39.0 %
Footnotes A. Where reference is made to shares, it refers to stapled securities in Far East H-Trust.

B. The percentage figures shown above are calculated on the basis of 1,603,888,000 issued Stapled Securities immediately following the listing of Far East H-Trust.

C. DBS Bank Ltd., Goldman Sachs (Singapore) Pte. and The Hongkong and Shanghai Banking Corporation Limited, Singapore Branch are the joint global coordinators for the Offering (collectively, the "Joint Global Coordinators"). DBS Bank Ltd., Goldman Sachs (Singapore) Pte., The Hongkong and Shanghai Banking Corporation Limited, Singapore Branch and Oversea-Chinese Banking Corporation are the joint bookrunners and underwriters of the Offering (collectively, the "Joint Bookrunners").