| THE SCHEDULE |
| Paragraph 2 |
| Document (39) E146 and VC 478 [Variation of Exemption No. 4/2002] |
| 1. The exemption granted to Leonie Court Pte Ltd shall be revoked if at any time it ceases to be the wholly owned subsidiary of CapitaLand Residential Ltd as from 28th September 2001 or if CapitaLand Residential Ltd ceases to be the wholly owned subsidiary of CapitaLand Ltd or if the exemption granted to CapitaLand Ltd is revoked. |
| 2. Leonie Court Pte Ltd shall file with the Controller of Residential Property a statutory declaration made by any of its directors or its secretary on or before 1st July 2003 and thereafter annually on or before 1st July in each subsequent year, furnishing the percentage of share capital held by CapitaLand Residential Ltd and the percentage of share capital in CapitaLand Residential Ltd held by CapitaLand Ltd. |
| 3. Leonie Court Pte Ltd shall furnish to the Controller of Residential Property its annual report and income tax notice of assessment for each year of assessment, or satisfactory documentary evidence that no income tax is payable, within a period of 90 days of 1st July 2003. |
| 4. The exemption granted to Leonie Court Pte Ltd shall be revoked if any of the documents mentioned in conditions 2 and 3 is not filed for any consecutive year. |