We wish to announce that Sunway Geotechnics (M) Sdn Bhd ("SunGeo"), a wholly-owned subsidiary of Sunway Construction Sdn Bhd, which in turn is a wholly-owned subsidiary of Sunway Holdings Sdn Bhd and which in turn is a wholly-owned subsidiary of Sunway, has on 16 January 2012, accepted the letter of award for a contract worth RM42.38 million from Tropicana Golf & Country Resort Berhad for the construction and completion of earthwork, piling, pilecaps and basement slab for the proposed development of 1 block of 16-storey office (210 units) and 1 block of 38-storey service apartment (453 units) on 4-storey business premises and 4-storey car park podium on Lot PT 424 (Lot 89550 PN 90429) and PT 425 (Lot 89551 PN 91071), Persiaran Tropicana, Mukim Sungai Buloh, Daerah Petaling, Selangor [hereinafter referred to as the "Proposed Project"] .

The Proposed Project is targeted to be fully completed on or by 16 January 2013 with a construction period of 12 months. It is expected to contribute positively to the earnings of Sunway Group for the financial year ending 31 December 2012 onwards.

The Proposed Project is subject to normal construction risk of materials price fluctuation. However, with the past experience and expertise of SunGeo in construction projects in Malaysia, this risk could be mitigated at this juncture.

None of the directors or substantial shareholders of Sunway or persons connected with them has any interest, whether direct or indirect in the Proposed Project.

This announcement is dated 16 January 2012.

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