Millennium & Copthorne Hotels New Zealand Limited and CDL Investments New Zealand Limited - Exemption Notice 2017

Agapier and Singapura are exempted from rule 6(1) of the Code in respect of any increase in their voting control that results from the acquisition by City Developments Limited (CDL) (through Agapier) of some or all the shares in Millennium & Copthorne Hotels plc not already held by CDL and its wholly owned subsidiaries (Singapura and Agapier).