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METRO HOLDINGS LIMITED
(Company Registration No. 197301792W)

INTENT TO DIVEST IN THE ORDINARY COURSE OF BUSINESS BY METRO
HOLDINGS LTD GROUP OF ITS INVESTMENT IN JOINTLY CONTROLLED
ENTITY OWNING METROCITY BEIJING

The Board of Directors of Metro Holdings Limited (“Metro” or the “Company”)
wishes to announce that Metro City Beijing Pte Ltd (“MCBPL”), a wholly-owned
subsidiary of Metro China Holdings Pte Ltd who in turn is a wholly-owned
subsidiary of the Company, has with China National Arts & Crafts (Group) Corp
(“CNAC”), placed their respective 50% equity interest in Beijing Huamao Property
Co Ltd (“Huamao”) on the China Beijing Equity Exchange (“CBEX”) for tendering
and bidding under the rules of CBEX for state-owned equity transfers. Huamao
owns the retail property known as MetroCity Beijing.

The Company wishes to clarify that the placing by CNAC of its 50% equity interest
in Huamao on the CBEX is in compliance with its obligations as a state-owned
enterprise. The Metro Group intends to divest its 50% equity interest in Huamao at
the same time and on similar terms.

The Company also wishes to inform that there is no assurance that the bidding
process will lead to a sale of the Metro Group’s 50% equity interest in Huamao.
Accordingly, shareholders of the Company are advised to exercise caution in their
dealings in the shares of the Company.

The Company will release the relevant announcement when further material
developments occur.

By Order of the Board
Tan Ching Chek and Lee Chin Yin
Joint Company Secretaries
14 April 2011