PT AGUNG PODOMORO LAND TBK ACQUIRED PLAZA KENARI MAS, JAKARTA

March 05, 2014

Jakarta, March 5, 2014. PT Agung Podomoro Land Tbk (“APLN” or “the Company”) – (Ticker IDX: APLN) – announced that it has entered into a conditional sale and purchase agreement to acquire 50.01% stake in PT Caturmas Karsaudara (CK), an unaffiliated company for IDR18 billion, and IDR82 billion as loan takeover and shareholder loans. CK owns about 1.1 hectare of land with a trade center building with saleable kios area of around 16,000m2, situated on Kramat Raya Road, Central Jakarta. The Company plans to rejuvenate the existing building into a trade center of which the units (kiosks) will be sold on a strata basis. The marketing sales to be generated will be disclosed once the plans are finalized.

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