OUE Completes Acquisition of US Bank Tower

  OUE Completes Acquisition of US Bank Tower

Business Wire

SINGAPORE -- June 18, 2013

Further to our announcement on March 11, 2013, the Board of Directors of
Overseas Union Enterprise Limited (“the Company”) is pleased to announce that
it has today completed the acquisition of US Bank Tower (the “Acquisition”).

As previously announced, the Acquisition was done via an indirect wholly owned
subsidiary company, Beringia Central LLC, by purchasing the total agreed upon
acquisition price of US$367,500,000, or approximately S$459,375,000 (based on
an exchange rate of US$1.00 : S$1.25) from Library Square Associates, LLC, a
subsidiary of MPG Office Trust Inc. (NSYE:MPG), a US REIT.

About Overseas Union Enterprise Limited

Overseas Union Enterprise Limited (SGX-ST: “OUE”) is a diversified real estate
owner, developer and operator with a complete portfolio of prime assets in key
locations in Singapore, and hotels in Malaysia and the People’s Republic of

OUE consistently grows its business by leveraging its brands and proven
expertise in developing and managing landmark assets across the commercial,
hospitality, retail and residential sectors primarily in Singapore. With its
core strategy of investing in and enhancing a stable of distinctive
properties, OUE is committed to developing a portfolio that has a strong
recurrent income base, balanced with development profits, to enhance long-term
shareholder value.

For the latest news from OUE, visit us at www.oue.com.sg


Media Contact:
ADDO Communications
Mr Lasse Glassen, Director,
Tel +1-310-829-5400 (Time Zone: Los Angeles)
12121 Wilshire Blvd, Suite #775
Los Angeles, CA 90025
Investor Relations Contact:
Overseas Union Enterprise Limited
Mr Rudi Chuan, Chief Financial Officer
Tel: 6809-6000 (Time Zone: Singapore) Fax: 6809-6063
50 Collyer Quay #18-01/02
Singapore 049321
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