UM LAND turns in strong results

PRESS RELEASE
27 February 2007

UM LAND’S REVENUE UP 94% Y-O-Y
Future Growth Opportunity with More Niche Developments in the Pipeline

Kuala Lumpur 27 February 2007 – For the year ended to December 31, 2006, United Malayan Land Bhd (“UM Land”) Group achieved profit before tax (“PBT”) of RM67.5 million on the back of RM417 million in turnover. This represents growth of 94% and 83% in turnover and PBT respectively which ultimately contributed to the 37% growth in its net profit recorded at RM40.1 million.

UM Land Group continues its good performance with an impressive 44% increase in revenue to RM163 million for the 4th quarter compared to its 3rd quarter. Its net profit was up 138% to RM23.0 million from RM9.7 million in the last quarter.

With the commendable results, UM Land is rewarding its shareholders by recommending a final gross dividend of 6.5 sen per share less tax. This, together with the 2.5 sen tax-exempt interim dividend, brings total gross dividends for financial year 2006 close to 10.0 sen per share, higher than the gross dividends of 7.5 sen per share distributed in financial year 2005.

Mr. Anthony Yap, UM Land’s Group Chief Executive Officer said, “The revenue and profit growth can be attributed to increase in contributions from the Group’s Township Division comprising Seri Alam, Seri Putra and Seri Austin as well as its condominium project Suasana Sentral Loft, located in the transportation hub of KL Sentral. The Group has entered into two new joint venture developments with strategic partners at Jalan Mayang and Persiaran Raja Chulan, earmarked for development of high end condominium and serviced residences respectively. The Group also concluded the acquisition of a piece of freehold residential land located in Bangsar sometime end of last month. Given the attractive locations and development potential of these projects, they are expected to contribute positively to earnings of the Group going forward.”

UM Land Group anticipates that its Township Division will continue to provide sustainable future income stream whereas growth will predominantly be supported by niche developments. The Group is optimistic that the massive regional development programme allocated for the Iskandar Development Region (IDR) in Johor under the 9MP will greatly benefit its two townships of Seri Alam and Seri Austin, which are strategically located within that region. In particular, the proposed infrastructure development within the region, which includes the Southern Link, East West Link and the Upgrading of Pasir Gudang Highway, will improve the accessibility to both townships. Further, the Government has also announced that it will be building a MARA college and the KL University within the Seri Alam township, both to be operational by 2009. The Group will leverage on these opportunities and step up the development progress of the townships while positioning itself as a choice developer.

Further information on the financial results can be found in UM Land’s announcement made to Bursa Malaysia today at www.bursamalaysia.com