Disposal of Shares in Fairpoint Properties Limited by CPL

Centrepoint Properties Ltd ("CPL") announces the disposal of its associated company, Fairpoint Properties Limited ("FPL") in United Kingdom for a consideration of L2 million. CPL (UK) Pte Ltd (75% owned by CPL) holds a 50% interest in FPL.

The disposal is not expected to have any material effect on earnings or net tangible assets per share of the CPL Group in the current financial year.

No director or substantial shareholder of CPL has any direct or indirect interest in the transaction.

Yours sincerely
CENTREPOINT PROPERTIES LTD
I A MacLean
Director & Company Secretary