ALLGREEN PROPERTIES LIMITED
(COMPANY REGISTRATION NO. 198601009N)


ACQUISITION OF PROPERTY

The Board of Directors of Allgreen Properties Limited is pleased to announce that the
Company has on 26 April 2007 entered into an agreement ("the Agreement") with the
subsidiary proprietors of Regent Garden (collectively "the Vendors") to purchase the
property known as Regent Garden at West Coast Road ("the Property") for a cash
consideration of S$34 million subject to the terms and conditions of the Agreement. The
estimated development charge payable is $7.6 million.

The Property is located along West Coast Road and has a freehold tenure with an area of
approximately 7,038.2 sqm. Subject to requisite approvals, the Property can be
developed into a condominium development comprising approximately 85 residential
units of 110 sqm each.

The Company has paid a deposit of 5% of the said cash consideration to the Vendors,
with another 5% payable on approval by the Strata Title Board, and the balance 90% to
be paid upon completion subject to satisfaction of certain conditions and approvals being
obtained.

The acquisition and development of the Property will be financed by internal funds
and/or bank borrowings. The acquisition is not expected to have any material impact on
the consolidated earnings and net tangible assets per share of the group for the financial
year ending 31 December 2007.




BY ORDER OF THE BOARD
MS ISOO TAN
COMPANY SECRETARY
26 April 2007