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

BackSep 04, 2012
Part I
1. Date of notice to issuer 04/09/2012
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 03/09/2012
2. The change in the percentage level From 39.0 % To 34.9 %
3. Circumstance(s) giving rise to the interest or change in interest # Others

Pursuant to a Stapled Securities lending agreement entered into between GDPL and DBS Bank Ltd. (the stabilising manager for the initial public offering of Far East Hospitality Trust ("Far East H-Trust")) on 16 August 2012, DBS Bank Ltd. has borrowed 65,873,000 Stapled Securities from GDPL. After the lending and the subsequent exercise of the over-allotment option by DBS Bank Ltd. on 3 September 2012, GDPL has a direct interest in 223,417,000 Stapled Securities and a deemed interest in 154,481,000 Stapled Securities.

GDPL is 99.9% owned by the Estate. The Estate is therefore deemed to be interested in the 377,898,000 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 a transaction.
Part IV
1. Holdings of Substantial Shareholder, including direct and deemed interest :
 
  Direct Deemed
No. of shares held before the change 0 626,078,000
As a percentage of issued share capital 0 % 39.0 %
No. of shares held after the change 0 560,205,000
As a percentage of issued share capital 0 % 34.9 %
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").