Notice Of Cessation Of Substantial Shareholding

BackJul 18, 2011

Part I

Date of notice to issuer

15/07/2011

Name of Substantial Shareholder

Mackenzie Cundill Recovery Fund ("MCRF")

Notice Type

Notice of a Change in the Percentage Level of a Substantial Shareholder's Interest or Cessation of Interest.

Part II - Not Required

Part III

Date of change of Interest

13/07/2011

The change in the percentage level

From 6.34 % To 4.93 %

Circumstance(s) giving rise to the interest or change in interest

# Others

Due to a block trade entered into pursuant to the rules of the SGX.

A statement of whether the change in the percentage level is the result of a transaction or a series of transactions:

Change in the percentage level is the result of a transaction.

Part IV

Holdings of Substantial Shareholder, including direct and deemed interest :

	Direct	Deemed
No. of shares held before the change	55,000,000	0
As a percentage of issued share capital	6.34 %	0 %
No. of shares held after the change	58,575,000	0
As a percentage of issued share capital	4.93 %	0 %
Footnotes	PART III - NOTE 3 MCRF was a substantial shareholder of the Company by virtue of its beneficial interest in the shares held through a nominee. For the avoidance of doubt, there had been other open market transactions prior to this block trade. Such other transactions did not cause MCRF's interests to cross a reportable threshold. PART IV The percentage of shares held before the change is calculated based on total number of issued ordinary shares (excluding treasury shares) being 867,546,000 as at November 6, 2009, being the date of change of interest notified in the last filing of substantial shareholder's interest. The percentage of shares held after the change is calculated based on total number of issued ordinary shares (excluding treasury shares) being 1,189,198,368 as at July 13, 2011. Where reference is made to shares, it refers to units in Cambridge Industrial Trust.