Industry Update
Press Release21 January 2003

Raffles International Employee Intranet Bags Prestigious 3rd Annual Intelligent20 Award

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Raffles Holdings

RafflesGALAXY, Raffles International Limited's Human Capital Management System has won an Intelligent20 Award this year. Raffles International is the only hotel group among the 20 Asia-Pacific winning companies to have been so recognised at the 3rd Annual Intelligent20 Awards.

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Chairman and CEO of Raffles International Limited Richard Helfer said, "We had specific human resource requirements as a result of the rapid growth of our international portfolio of hotels. We sought solutions to those needs through the development of RafflesGALAXY. The recognition of Raffles International by experts in the IT industry benchmarks us against the best in class in the areas of training, communications and HR processes. We're very proud to have been selected to receive this award.

The awards, sponsored by prestigious IT trade magazine Intelligent Enterprise, are presented annually to 20 companies that make IT work for them by combining the right business focus, the right people, and the best execution strategy. The winners were selected by an independent panel of judges from 10 leading IT research and management consulting firms.

Raffles International launched RafflesGALAXY in June 2002 following a six-month intensive preparation for its global implementation. The system is accessible through Raffles International's Intranet, enabling the company's 10,500 international staff to carry out not only strategic HR tasks through a Web browser-based environment but also achieve business intelligence, training and knowledge management interactions.

Raffles Holdings' Deputy Chairman and CapitaLand's President and CEO, Mr. Liew Mun Leong said: "The RafflesGALAXY portal provides a user-friendly environment where Raffles International employees worldwide can create knowledge within and about the Company. This knowledge portal also acts as a catalyst to encourage employees to share information and expertise, and at the same time develop new and innovative ideas. Such strategic initiatives are in line with the CapitaLand Group's focus on talent management."

In early 2003, RafflesGALAXY will enable employees to collaborate with each other in real-time across geographical boundaries. This will help reduce response time and ensure a more accurate disclosure of critical business information, helping Raffles International adapt more efficiently to the fast-changing global customer trends and preferences.

About Raffles International - Raffles International Limited, formed in 1989, is a name well respected in the industry for its standards of quality, award-winning concepts and innovative approach towards hotel management. Raffles International's hotels and resorts are marketed under a two-tiered brand structure. The "Raffles brand" hotels distinguish themselves by the highest standards of products and services available in major cities on an international level. The "Swissôtel" hotels offer quality accommodation and the full range of modern facilities and amenities expected by today's discerning traveller, with an emphasis on quality and comfort. Many hotels in the Raffles International portfolio have been voted top hotels in the world. These include the legendary Raffles Hotel Singapore, Raffles Brown's Hotel London, Raffles Hotel Vier Jahreszeiten Hamburg, Raffles L'Ermitage Beverly Hills and Le Montreux Palace. Raffles International also operates one of the largest spa networks in the world - Amrita Spa - which is found in 10 locations, including Raffles L'Ermitage Beverly Hills in California, Swissôtel Quito in South America and Le Montreux Palace in Switzerland; as well as the SPAcademy, Singapore's premier spa education and skills training institute. The Raffles International Training Centres in Singapore and Phnom Penh offer training programmes for the hospitality and service industry.

About Raffles Holdings and CapitaLand - Raffles International Limited is the hotel management subsidiary of Raffles Holdings Limited. Raffles Holdings Limited's portfolio comprises hotels and resorts in major destinations across Asia, Australia, Europe, North America and South America. Raffles Holdings is a subsidiary of CapitaLand Limited. Both companies are listed on the Singapore Exchange Securities Trading Limited. CapitaLand is one of the largest listed property companies in Asia. Headquartered in Singapore, the multi-national company has property and property-related services focused in select gateway cities in Asia, Australia and Europe. CapitaLand's hospitality businesses, in hotels and serviced residences, span more than 50 cities around the world. Its business interests cover commercial and industrial buildings, residential properties, property funds, real estate financials and property services, besides hotels and serviced residences. CapitaLand also leverages on its significant real estate asset base and market knowledge to develop fee-based products and services. Given its scale, scope of services and geographic spread, the company's core assets are its people - a strong international management team and a dedicated, professional staff. CapitaLand believes in developing the best people to deliver the best products and services; in other words, building people who build for people.

Contact
Goh Kah Lin
manager Corporate & Marketing Communications
Phone: (65) 6430-1366
Fax: (65) 6339-1713
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