MANDATORY CONDITIONAL CASH OFFER

by

Standard Chartered Bank

for and on behalf of

68 HOLDINGS PTE. LTD. (Incorporated in the Republic of Singapore) Company Registration No. 201404238W

for

HOTEL PROPERTIES LIMITED (Incorporated in the Republic of Singapore) Company Registration No.198000348Z DEALINGS DISCLOSURE ANNOUNCEMENT 1. INTRODUCTION

Standard Chartered Bank ("SCB") refers to the offer document dated 5 May 2014 (the
"Offer Document") in connection with the mandatory conditional cash offer by 68
Holdings Pte. Ltd. (the "Offeror")1 for all the issued ordinary shares ("HPL Shares") in the capital of Hotel Properties Limited ("HPL") not already owned, controlled or agreed to be acquired by the Offeror.
All capitalised terms used and not defined herein shall have the same meanings given to them in the Offer Document.

1 Cuscaden Partners Pte. Ltd. holds 60 per cent. of the issued share capital of the Offeror and Nassim Developments Pte. Ltd. holds 40 per cent. of the issued share capital of the Offeror. Nassim Developments Pte. Ltd. is an indirect wholly-owned subsidiary of Wheelock Properties (Singapore) Limited.

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2. DEALINGS BY THE OFFEROR

Pursuant to Rule 12.1 of the Singapore Code on Take-overs and Mergers, SCB wishes to announce, for and on behalf of the Offeror, that the Offeror has acquired the following Shares2 on 29 May 2014 (the "Acquired Shares") on the SGX-ST,
details of which are set out below:

S/N

Description

1.

Total number of Acquired Shares

35,000

2.

Percentage of the total number of HPL Shares(1) constituted by the

Acquired Shares

0.01%(2)

3.

Consideration paid per HPL Share for the Acquired Shares, excluding brokerage fee, clearing fee and applicable tax

S$4.05

4.

Resultant total number of HPL Shares owned, controlled or agreed to be acquired by the Offeror and parties acting in concert with the Offeror

247,455,880

5.

Resultant percentage of the total number of HPL Shares represented by all HPL Shares owned, controlled or agreed to be acquired by the Offeror and parties acting in concert with the Offeror

47.67%(2)

6.

Resultant percentage of the maximum potential issued share capital of HPL represented by all HPL Shares owned, controlled or agreed to be acquired by the Offeror and parties acting in concert with the Offeror

47.54%(2)

Notes:

(1) In this Announcement, the total number of issued HPL Shares in the capital of HPL is 519,048,851

HPL Shares as at 29 May 2014.

(2) Rounded to the nearest two decimal places.

2 In this Announcement, HPL Shares agreed to be acquired pursuant to a trade on the SGX-ST on a trade date are regarded as HPL Shares already acquired on that trade date, notwithstanding that settlement of that trade will occur three market days later.

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3. RESPONSIBILITY STATEMENT

The directors of the Offeror (who may each have delegated detailed supervision of this Announcement) have taken all reasonable care to ensure that the facts stated and all opinions expressed in this Announcement are fair and accurate and that no material facts have been omitted from this Announcement, and they jointly and severally accept responsibility accordingly.
Where any information has been extracted or reproduced from published or publicly available sources (including, without limitation, in relation to HPL or its subsidiaries), the sole responsibility of the directors of the Offeror has been to ensure, through reasonable enquiries, that such information is accurately extracted from such sources or, as the case may be, reflected or reproduced in this Announcement.
Issued by

Standard Chartered Bank

For and on behalf of

68 Holdings Pte. Ltd.

30 May 2014
Singapore

Any inquiries relating to this Announcement or the Offer should be directed during office hours to the following:

Andrew Suckling

Managing Director, Mergers & Acquisitions

Tel: +65 6596 7515

Samaresh Singh

Director, Mergers & Acquisitions

Tel: +65 6596 7525

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