RESPONSE TO SGX-ST QUERIES REGARDING TRADING ACTIVITY

The Board of Directors of Wheelock Properties (Singapore) Limited (the "

The Company wishes to announce as follows:

Question 1 : Are you aware of any information not previously announced concerning you (the Issuer), your subsidiaries or associated companies which, if known, might explain the trading?

Response : To the best of its knowledge, neither the Company nor (to the best of their knowledge) the Directors are aware of any material information concerning the Company, its subsidiaries and associated companies that might explain the substantial increase in price of the Company's shares.

Question 2 : Are you aware of any other possible explanation for the trading?

Response : The Company is not aware of any other possible explanation for the trading.

Question 3 : Can you confirm your compliance with the listing rules and, in particular, listing rule 703?

Response : The Company confirms that it has complied with the listing rules of the SGX-ST and, in particular, listing rule 703.

By Order Of The Board

Tan Ling Company" ) refers to the queries by the Singapore Exchange Securities Trading Limited (" SGX-ST" ) regarding the substantial increase in the price of the Company’s shares on 16 March 2012.

Wheelock posts 76% rise in full-year gross profit to $330m

This is an increase of 48% and 76% respectively when compared to financial year 2009 led mainly to higher revenue recognition from Scotts Square based on construction progress and from the sale of units in Orchard View in FY2010. Gross profit margin improved to 58% from 48% last year.

The group’s investment properties also saw an increase of $55.5 million as a result of the fair value gain on the revaluation of Wheelock Place, which was revalued from $794.5 million to $850 million.

The group has a healthy Cash and Cash equivalents position of $861 million as at 31 December 2010 as compared to $759 million held as at 31 December 2009. This increase was largely attributed to the progress billings from sales of units at Ardmore II and Scotts Square as well as sale of units in Orchard View in FY2010.

Wheelock says its revenue and earnings will be further bolstered by the recognition of remaining profits on sold units at Scotts Square. Progress billings between 45% and 55% have been served on Scotts Square and we expect to achieve 85% in 2011 when the project obtains its Temporary Occupation Permit (TOP). About 100% of profits will also be recognised on additional units sold in the completed Orchard View.