CapitaLand Ascott Trust - Investor Relations: News

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

BackSep 22, 2010

Part I

Date of notice to issuer

22/09/2010

Name of Substantial Shareholder

CapitaLand Limited

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

Date of change of Interest

22/09/2010

The change in the percentage level

From 47.23 % To 48.01 %

Circumstance(s) giving rise to the interest or change in interest

# Others

Change in deemed interest due to the following circumstances:

1) Allotment of an aggregate of 5,788,430 new units of Ascott Reit to Ascott Residence Trust Management Limited ("ARTML"), the manager of Ascott Reit in partial payment of management fees for the period from 21 May 2009 to 4 Aug 2010.

2) Allotment of 194,323 new units of Ascott Reit to ARTML in payment of acquisition fee in relation to the completion of the acquisition by Ascott Reit of the entire issued share capital of The Ascott (Vietnam) Investments Pte Ltd on 1 December 2009.

3) Allotment of 125,164,000 new units of Ascott Reit to The Ascott Limited ("TAL") and 78,004,000 new units of Ascott Reit to Somerset Capital Pte Ltd ("SCPL") under the Private Placement of the Equity Fund Raising which comprises the Private Placement and the Preferential Offering, undertaken by Ascott Reit.

The aforesaid allotment will enable CL to maintain its interest in Ascott Reit after the Equity Fund Raising. Prior to the Private Placement, CL's interest in Ascott Reit was approximately 47.74%. Following the Private Placement, CL's interest in Ascott Reit has increased from approximately 47.74% to 48.01%. The Preferential Offering is expected to complete on 7 October 2010 upon which CL's interest in Ascott Reit is expected to return to approximately 47.74% from 48.01%, due to CL's non participation in the application for Excess New Units and the Rounding Mechanism of the Preferential Offering.

As ARTML, TAL and SCPL are wholly-owned subsidiaries of CL, CL is deemed to be interested in the above units held by them.

A statement of whether the change in the percentage level is the result of a transaction or a series of transactions:

A series of transactions

Part IV

Holdings of Substantial Shareholder, including direct and deemed interest :

	Direct	Deemed
No. of shares held before the change	0	289815731
As a percentage of issued share capital	0 %	47.23 %
No. of shares held after the change	0	498966484
As a percentage of issued share capital	0 %	48.01 %
Footnotes	Notes: 1. "Private Placement", "Preferential Offering", "Equity Fund Raising", "Excess New Units" and "Rounding Mechanism" shall bear the meanings set out in the Offer Information Statement of Ascott Reit dated 13 September 2010. 2. Where references are made to shares, it refers to the units in Ascott REIT. 3. Percentage unitholdings held before the change is expressed based on 613,597,321 units of Ascott REIT in issue on 6 March 2009. 4. Percentage unitholdings held after the change is expressed based on 1,039,240,074 units of Ascott REIT in issue on 22 September 2010.