Singapore, 13 March 2014– CapitaLand's wholly-owned serviced

residence unit, The Ascott Limited (Ascott), continues to extend its global footprint as it kicks off its 30th anniversary celebrations with special promotions for its customers that include discounted rates and free nights.

Ascott, which pioneered Asia-Pacific's first international-class serviced residence in 1984, has secured

contracts to manage its first property in Myanmar, Somerset Kabar Aye Yangon, and its third property in Wuhan, Somerset Zhuankou Wuhan. In addition, Ascott has opened its first property in Frankfurt, Citadines City Centre Frankfurt and will open Ascott Sentral Kuala Lumpur on 21 March 2014 and Ascott Midtown Suzhou in April 2014.

Starting from one property each in Singapore (The Ascott Singapore on Scotts Road) and France

(Citadines La Défense Paris), Ascott has grown to become the world's largest international owner- operator of serviced residences, with about 34,000 apartment units in 231 properties. Voted the 'World's Leading Serviced Apartment Brand' at the prestigious World Travel Awards 2013, Ascott's three award-winning brands of serviced residences – Ascott The Residence, Citadines Apart'hotel and Somerset Serviced Residence, provide a home away from home for expatriates and travellers in 83 cities across 23 countries in Asia Pacific, Europe and the Gulf region.

Mr Lee Chee Koon, Ascott's Chief Executive Officer, said: "As Ascott celebrates 30 years of successful

business, we would like to thank all our customers for their unwavering support. In 2013 alone, we had over one million stays, of which a significant percentage was from repeat guests and we look forward to their continued support. To enable our guests to enjoy the comforts of home in more destinations, we plan to open 58 properties across 12 countries by 2018, of which about 20 properties are scheduled to open this year."

He said: "We would also like to thank our employees for their dedication, key executives who

pioneered and helped to grow Ascott over the years, as well as our Board members and management for their stewardship. Ascott's focus this year is to seek investment opportunities in key markets where we have presence like Singapore, China, India, capital cities in Southeast Asia, Paris, London and key cities in Germany. We will also expand through management contracts and strategic alliances to achieve our target of 40,000 apartment units globally by 2015 and to strengthen Ascott's position as the global serviced residence leader."

Mr Lee added: "At Ascott, we are committed to continuous innovation and going the extra mile to

provide our customers the best experience. Since our refurbishment programme started in 2010, we have invested close to S$100 million to renovate 20 properties. Ascott will spend another S$200 million to enhance 29 more properties by 2016. To celebrate Ascott's 30th anniversary, we would like to reward our customers and continue to give back to the communities as we look forward to the next 30 years and more."

About The Ascott Limited

Since pioneering Asia Pacific's first international-class serviced residence with the opening of The Ascott Singapore in 1984, Ascott has grown to be a trusted hospitality company with more than 940 properties globally. Headquartered in Singapore, Ascott's presence extends across more than 220 cities in over 40 countries in Asia Pacific, Central Asia, Europe, the Middle East, Africa, and the USA.

Ascott's diversified accommodation offerings span serviced residences, co-living properties, hotels and independent senior living apartments, as well as student accommodation and rental housing. Its award-winning hospitality brands include Ascott, Citadines, lyf, Oakwood, Quest, Somerset, The Crest Collection, The Unlimited Collection, Preference, Fox, Harris, POP!, Vertu and Yello; and it has a brand partnership with Domitys. Through Ascott Star Rewards (ASR), Ascott's loyalty programme, members enjoy exclusive privileges and offers at participating properties.

A wholly owned business unit of CapitaLand Investment Limited, Ascott is a leading vertically-integrated lodging operator. Harnessing its extensive network of third-party owners and in-market expertise, Ascott grows fee-related earnings through its hospitality management and investment management capabilities. Ascott also expands its funds under management by growing its sponsored CapitaLand Ascott Trust and private funds.

For more information on Ascott's industry record of 40 years and its sustainability programme, please visit www.discoverasr.com/the-ascott-limited. Connect with us on Facebook, Instagram, TikTok and LinkedIn.

About CapitaLand Investment Limited

Headquartered and listed in Singapore, CapitaLand Investment Limited (CLI) is a leading global real estate investment manager (REIM) with a strong Asia foothold. As at 30 September 2023, CLI had S$133 billion of real estate assets under management, and S$90 billion of real estate funds under management (FUM) held via six listed real estate investment trusts and business trusts, and more than 30 private vehicles across Asia Pacific, Europe and USA. Its diversified real estate asset classes cover retail, office, lodging, business parks, industrial, logistics and data centres.

CLI aims to scale its FUM and fee-related earnings through fund management, lodging management and its full stack of operating capabilities, and maintain effective capital management. As the investment management arm of CapitaLand Group, CLI has access to the development capabilities of and pipeline investment opportunities from CapitaLand's development arm.

As a responsible company, CLI places sustainability at the core of what it does and has committed to achieve Net Zero carbon emissions for scope 1 and 2 by 2050. CLI contributes to the environmental and social well-being of the communities where it operates, as it delivers long-term economic value to its stakeholders.

Visit http://www.capitalandinvest.com/ for more information.

Jasmine SIM
Manager, Corporate Communications, The Ascott Ltd
(65) 6823 3249
The Ascott Limited