BBR buys Holland Crest for S$70.6 million

PURCHASE OF A FREEHOLD SITE AT 19 & 21 HOLLAND HILL

BBR Holdings (S) Ltd (the "Company") wishes to announce that SP Holland Hill Private Limited, a wholly owned subsidiary of Singapore Piling & Civil Engineering Private Limited, has entered into a sale & purchase agreement today for the acquisition of a 4,899.8 sq m (52,741 sq ft) freehold site at 19 & 21 Holland Hill (MK 2 Lot 2455P) for S$70.6 million.

The site will be developed into a 12-storey condominium comprising about 70 units and will be launched by end 2007 or early 2008.

The acquisition will be funded by the Group's internal resources and bank borrowings. The Company does not expect any material financial impact on the net tangible assets per share and earnings per share of the Company for the current financial year ending 31 December 2007 arising from this transaction.

None of the Directors or the substantial shareholders of the Company have any interest, directly or indirectly in the transaction.