CAPITALAND LIMITED

Regn No.: 198900036N (Incorporated in the Republic of Singapore)

ANNOUNCEMENT GRANT OF SHARE AWARDS AND ALLOTMENT OF SHARES TO NON-EXECUTIVE DIRECTORS OF CAPITALAND LIMITED

CapitaLand Limited ("CapitaLand") wishes to announce the grant of share awards under the CapitaLand Restricted Share Plan 2010 to the following non-executive directors and the consequent allotment of shares pursuant thereto, being payment in the form of shares equivalent to about 30% of their directors' fees for the year ended 31 December 2011 as approved by shareholders at CapitaLand's Annual General Meeting held on 30 April 2012:

(a)

Date of grant

22 May 2012

(b)

Number of shares comprised

in the awards

149,270*

(c)

Market price (last done) of the shares on the date of grant

S$2.51 per share

(d)

Number of shares comprised in the awards granted to each

director and controlling shareholder (and each of their

associates), if any

Directors No. of Shares*

Ng Kee Choe 13,860

Peter Seah Lim Huat 26,552

James Koh Cher Siang 21,380

Arfat Pannir Selvam 23,238

Kenneth Stuart Courtis 21,794

John Powell Morschel 18,468

Simon Claude Israel 20,261

Euleen Goh Yiu Kiang 3,717

Total: 149,270

* The number of shares awarded was determined by reference to the volume-weighted average price of a share on the SGX-ST over the 14 trading days immediately following the date of CapitaLand's Annual General Meeting (namely, S$2.68 per share), rounded down to the nearest share.
By Order of the Board
Low Sai Choy
Company Secretary
22 May 2012

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