Statement By Directors

We, LIM CHEE ONN and KEVIN WONG KINGCHEUNG, being two of the Directors of Keppel Land Limited, do hereby state that, in the opinion of the Directors:

(a)  the balance sheets, profit and loss accounts, statements of changes in equity and consolidated cashflow statement, together with the notes thereon, set out on pages 164 to 208 are drawn up so as to exhibit a true and fair view of the state of affairs of the Company and of the Group as at 31 December 2002 and of the results and changes in equity of the Company and the Group, and cash flow of the Group for the year then ended; and

(b)  at the date of this statement, there are reasonable grounds to believe that the Company will be able to pay its debts as and when they fall due.

On behalf of the Board
Singapore, 27 March 2003

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