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

BackMar 10, 2009
Part I
1. Date of notice to issuer 10/03/2009
2. Name of Substantial Shareholder Temasek Holdings (Private) Limited
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 Deemed Interest 06/03/2009
2. The change in the percentage level From 47.14 % To 48.00 %
3. Circumstance(s) giving rise to the interest or change in interest # Others

By virtue of a series of transactions by its associated companies in the (i) DBS Group Holdings Limited ("DBSH") group, (ii) Keppel Corporation Limited ("KCL") group and (iii) CapitaLand Limited ("CL") group.

As at 6 March 2009, Temasek Holdings (Private) Limited ("Temasek") therefore had an aggregate deemed interest in 294,505,731 Units of Ascott Reit ("Units") representing 48.00% of the issued Units comprising:

1. 3,800,000 Units in which DBSH is deemed to have an interest;
2. 890,000 Units in which KCL is deemed to have an interest; and
3. 289,815,731 Units in which CL is deemed to have an interest.

Temasek became aware of the change in the percentage level of its interests in the Units on 9 March 2009.
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 series of transactions.
Part IV
1. Holdings of Substantial Shareholder, including direct and deemed interest :
 
  Direct Deemed
No. of shares held before the change 0 285,057,628
As a percentage of issued share capital 0 % 47.14 %
No. of shares held after the change 0 294,505,731
As a percentage of issued share capital 0 % 48.00 %
Footnotes Notes:

1. Where references are made to shares, it refers to the Units in Ascott Reit
2. Percentage of Unitholding is expressed based on 604,735,218 Units in issue as of 26 March 2007.
3. Percentage of Unitholding is expressed based on 613,597,321 Units in issue as of 6 March 2009.