Tenancy Agreement

Feb 27, 2007

The Board of Directors of Kingsmen Creatives Ltd. (the "Company") wishes to announce that the Company has entered into a new tenancy agreement (the "Agreement") in respect of the premises at 3 Changi South Lane, Kingsmen Creative Centre, Singapore 486118, presently occupied by the Company (the "Premises") with HSBC Institutional Trust Services (Singapore) Limited, the trustee of the new landlord of the Premises, Mapletree Logistics Trust.

The Agreement will be for an initial term of 9 years with options to the Company to renew for two further terms of 5 years each. The aggregate of the new rent payable for the first term is $12,270,744.00.

None of the directors or substantial shareholders of the Company has any interest, direct or indirect, in the Agreement.