LIAN BENG TO PARTNER LASALLE INVESTMENT IN S$148M EMERALD HILL PROJECT

LIAN BENG TO PARTNER LASALLE INVESTMENT IN

S$148M EMERALD HILL PROJECT

Group awarded S$34m construction contract, and will hold 10% of development

SINGAPORE, 9 January 2008 – Singapore’s major homegrown construction firm, Lian

Beng Group Ltd (“Lian Beng” or “the Group”), today announced a second strategic

partnership with LaSalle Investment Management (“LaSalle”) to jointly purchase and

redevelop a freehold luxury residential site at Emerald Hill Road in District 9.

The 29,811 sq ft site which is presently occupied by Emerald Mansion, was purchased for

S$148m. Based on a gross floor area of approximately 78,689 sq ft, the purchase price of

the site works out to about S$1,880 psf per plot ratio.

Under the terms of agreement, LaSalle will acquire a 85% interest while LB Land Pte.

Ltd. (“LB Land”), a subsidiary of Lian Beng will take up the remaining 15% equity stake.

With 67% interest in the capital of LB Land, Lian Beng effectively holds a 10% equity

stake in this project.

Leveraging its expertise and experience in its core business of building construction, Lian

Beng will be the main contractor for this project, which is worth approximately S$34

million. Work is expected to commence in April 2008 and is due to be completed by

September 2010.

Mr Ong Pang Aik, Managing Director of Lian Beng Group Limited said, “Our strengths in

building construction will complement LaSalle’s strengths in property development and

marketing. We are very excited about this second joint-venture with LaSalle, and we look

forward to building a successful partnership with them.”