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Facelift for Paragon to enhance retail experience

Singapore, January 7, 2008 - As part of its continuous efforts to enhance its retail environment and shopping experience for customers, Paragon shopping centre will embark on a $45 million makeover to update its building facade and increase retail space.

The facelift, which will begin in January, is expected to be completed by October 2008. The new look and stronger positioning as an upscale shopping centre will take Paragon to new heights of retail standards. The renovation and higher concentration of sophisticated designer stores are in line with the transformation of Orchard Road into a shopper’s paradise for the increasing number of well-heeled international visitors coming to Singapore.

The new, eye-catching three-dimensional facade will comprise multiple transparent, glazed and volumetric external shop-fronts installed above the walkway level.

The current glass and granite facade cladding will make way for a contemporary yet elegant look with the installation of pop-out glass boxes which will reflect an elegant, ethereal lightness. They will be made of multi-faceted layers of aluminium panels and fritted glass with in-built energy-saving LED lights.

The project is undertaken by DP Architects, which also oversaw the successful integration of Paragon and the former Promenade into a single shopping mall in 2003.

In redesigning Paragon’s facade, DP Architects aims to create a modern, classy and yet timeless new look, which will reflect its position as a leading shopping centre for international luxury goods in Singapore.

Mrs Linda Kwan, General Manager of Paragon, said: "The design is also prompted by luxury brand retailers looking for more space to expand and build their signature flagship stores and an opportunity to do something different. Paragon’s facade, when expanded forward by four metres towards the Orchard Road pedestrian walkway and spanning 115 metres in total length, will provide these tenants with significant visibility and brand expression."

The renovation is also in step with URA’s call to building owners to create more interesting and unique building facades to enhance the vibrancy of Orchard Road.

Upon completion, five duplexes of designer stores facing Orchard Road will front the mall and each will see its shop front increase by three times the current height. At the busy intersection of Orchard Road and Bideford Road, a luxury brand’s flagship store will enjoy a looming five storeys of shopfront starting from ground floor, providing a dramatic visual interest at this significant landmark junction.

Minor upgrading will also be carried out within the centre, including the addition of new balustrades for a contemporary look. Upon completion of the enhancement works, the nett lettable area at the retail podium will increase by approximately 11,600 square feet.

Expansion of Office and Medical Space
In addition to the facade makeover, the commercial space above Paragon retail podium will be expanded by another 29,000 square feet with the construction of two more floors for medical and office use. Scheduled to be completed by end-2008, this will cost a further $37 million, including the payment of land premium.

The total cost of the facade makeover and the addition of commercial space is $82 million.

During the renovation period, the centre will remain open and operate as per normal. Paragon will minimise any inconvenience as much as possible for the benefit of tenants and shoppers.

Owned by Singapore Press Holdings Ltd through its subsidiary Orchard 290, Paragon is one of the most successful shopping centres in Orchard Road. Apart from enjoying full occupancy, the shopping centre has also won Singapore Retailer Association (SRA) awards for Shopping Centre Scorecard 2007 in two categories - "Best Efforts in Advertising & Promotions" and "Best Efforts in Tenant Relationships" - in 2007

New Facade for Paragon:

(See attached file: New Facade jpg)

For more information, please contact:

Ms Patrina Tan
Deputy General Manager (Marketing)
Orchard 290 Ltd
DID: 6830 3852
Fax: 6733 1884

Ms Chen Jingwen
Assistant Manager
Corporate Communications
Singapore Press Holdings
DID: 6319 1226
HP: 9743 5503

Issued by Singapore Press Holdings Limited
Co. Regn. No: 198402868E

About Singapore Press Holdings Ltd

Newspapers and Magazines
Main board-listed Singapore Press Holdings Ltd (SPH) is the leading media company in Singapore, delivering news and information through print, Internet and broadcasting platforms. In Singapore, it publishes 14 newspapers in four languages. Every day, 2.9 million individuals or 81 percent of people above 15 years old, read one of SPH’s news publications. SPH also publishes over 90 magazine titles in Singapore and the region, covering a broad range of interests from lifestyle to information technology.

Internet and Mobile
Beyond print, the Internet editions of SPH newspapers enjoy over 110 million pageviews with 7 million unique visitors every month. Apart from SPH AsiaOne portal, SPH’s online and new media initiatives include a revolutionary mobile advertising and information service, ZapCode; recruitment and job search service, ST701; and STOMP (Straits Times Online Mobile Print), a portal that connects, engages and interacts with readers on the Web and via mobile phone messaging.

SPH has a 20 percent stake in MediaCorp TV Holdings Pte Ltd, which operates free-to-air channels 5, 8, U and TV Mobile, and a 40 percent stake in MediaCorp Press Pte Ltd, which publishes the free newspaper, Today. In the radio business, SPH has a 80 percent stake in SPH UnionWorks Pte Ltd, which operates entertainment stations Radio 100.3FM in Mandarin and Radio 91.3FM in English.

Outdoor Advertising
In addition, SPH has ventured into outdoor advertising through its wholly-owned subsidiary, SPH MediaBoxOffice Pte Ltd, Singapore´s largest outdoor motion display advertising network media company, and a 35 percent stake in TOM Outdoor Media Group, a leading outdoor advertising company in China.

SPH owns and manages Paragon, the prime retail and office complex in the heart of Orchard Road, Singapore’s main shopping belt. SPH’s wholly-owned subsidiary, Times Development Pte Ltd, is also developing a 43-storey upmarket residential condominium, Sky@eleven, at Thomson Road