Treasury Holdings Real Estate Pte Ltd, the trustee manager of Treasury China Trust (TCT), today announces the appointment of Mr Jerry Lee Yang Chiang as the Chief Financial Officer (CFO) and Ms Wendy Yao as the Chief Investment Officer (CIO) with immediate effect.

Mr Lee's most recent position was Chief Financial Officer at Guocoland Limited, a Singapore-based property developer with a keen focus on the China market. Treasury welcomes Mr. Lee's 27 years of experience in capital markets, accounting, financing and banking in Australia and Singapore and looks forward to his valuable contribution to our strong senior management team.

Ms Yao joined Treasury from Citigroup Property Investors where she was the China
Chief Representative and Chief Investment Officer. With 17 years of experience in the
real estate industry in London, Hong Kong and Shanghai, she will be based in Shanghai,
responsible for identifying, researching and evaluating potential acquisitions and
development opportunities and related investments in China with a view to enhancing
the portfolio and executing acquisitions approved by the Board.

Chief Executive Officer, Mr Richard David, expressed his delight at adding considerable
experience to the Treasury senior management team, "We are excited to have secured
the services of Jerry Lee and Wendy Yao and as part of our Asia strategy, these new
hires will significantly reinforce our presence and strength in our key markets of China
and Singapore."

Having commenced trading on the Main Board of Singapore Exchange Securities
Trading Limited today, Treasury China Trust (TCT) maintains an exclusive focus on
commercial real estate in China. As a total return vehicle, TCT uniquely combines the
elements of a high quality income producing commercial real estate portfolio with a
compelling development pipeline to ensure accretive balance sheet growth.

J.P. Morgan (S.E.A.) Limited is the financial adviser and issue manager in relation to the
listing of the units in Treasury China Trust on the Main Board of the SGX-ST by way of
an introduction.