Singapore, 2 April 2008 - The Crescendas Group celebrated the start of construction on the third phase of Biopolis @ one-north, with a groundbreaking ceremony this morning. The ceremony marks the commencement of another significant milestone in the development of Biopolis as a biomedical hub with world-class facilities. The Biopolis Phase III project, a designated multi-tenanted biomedical research facility, was earlier awarded to Crescendas Group by JTC Corporation under a design-build-own-operate tender with a 30+30 years lease term. Crescendas Bionix Pte Ltd, a member of Crescendas Group, is the vehicle for the project. JURONG Consultants Pte Ltd has been appointed project consultant. Biopolis Phase III, which is scheduled for completion by the last quarter of 2009, comprises two buildings which measure 41,505 sqm in Gross Floor Area. It will yield space for laboratories, research facilities, offices and retail operations. The buildings of five to seven storeys will share two interconnecting basement levels. The estimated investment for the development, excluding land premium and rent, approximates S$100 million. Biopolis Phase III is intended to extend basic research activities into other segments of translational and clinical research as well as medical technology research, to tap onto the synergies within the Biopolis cluster. Speaking at the groundbreaking ceremony, Mr. Philip Su, JTC's Assistant CEO, said: "For JTC Corp, the master developer of one-north, the groundbreaking of Biopolis Phase III @ one-north brings us a step closer to realizing our vision of developing Biopolis into a world-class centre for biomedical sciences R&D. It will provide facilities for translational and clinical research which will complete the full spectrum of biomedical sciences R&D activities conducted at Biopolis. We look forward to working with the Crescendas Group to provide leading-edge industrial estate solutions and develop Biopolis as the epicentre of biomedical research in Singapore." Mr Patrick Teo, CEO of Crescendas Bionix and Assistant CEO of the Crescendas Group, said: "We are indeed thrilled to have a role to play in shaping this prestigious development especially since we were up against stiff competition. The strength of our bid was in our understanding of the functional needs of users, our sensitivity of the general environs and ability to seamlessly amalgamate the earlier phases of Biopolis.? He added, ?In working with JURONG Consultants, we have found a strong and committed partner that is synonymous with Singapore?s industrialization efforts, and we value this opportunity to develop this next exciting phase which bridges the private and public sector research works through close collaborations." Ms Mao Whey Ying, President of JURONG Consultants added: "As Consultants to this latest addition to the biomedical hub in one-north, we will leverage fully on what we have learnt from developers and research communities, following through on the 'green' and 'human-centric' themes to ensure the vibrancy that Biopolis promises. Together with Crescendas, we are confident that Biopolis Phase III will be another choice location for the biomedical industry." The ceremony was attended by close to 150 guests from the government agencies, research institutes and corporations. The event was graced by Mr. Lim Chuan Poh, Chairman of A*STAR, the Agency for Science, Technology and Research. For more information contact: Ms Seah Mei Kiang Crescendas Group AVP, Corporate Communications DID: 65-6488 0817 HP: 65-9730 5816 Email: mkseah@crescendas.sg Ms Sant Kaur JTC Corporation SM (Media Relations) DID: 65-68833064 HP: 65-96457954 Email: santkaur@jtc.gov.sg Ms Cassandra How JURONG International Head, Corporate Affairs & Communications DID: 65-6267 8386 HP: 65-9018 0478 Email: cassandra.howsy@jurong.com About JTC Corporation JTC Corporation (JTC) is the lead agency in Singapore to plan, promote and develop a dynamic industrial landscape, in support of the nation's economic advancement. Currently, the Corporation has under its management many developments including four wafer fab parks, an advanced display park, two business parks, a chemicals hub at Jurong Island, biomedical parks in Tuas as well as logistics hubs for aerospace, chemical and general warehousing industries. JTC also plays a catalytic role in introducing leading-edge real estate solutions -- such as specialised research facilities and underground caverns -- to anchor important activities critical to the growth of the economy. It is the master developer for one-north at Buona Vista -- a 200-hectare development for research and entrepreneurial activities. With a focus on knowledge-intensive activities in the biomedical, infocomms and media industries, one-north is a niche environment for innovation and creativity. In line with its vision of making Singapore the choice investment location, JTC is committed to providing a pro-business environment for its customers and optimising land resources to meet the needs of industries and enterprises. JTC's home page address is http://www.jtc.gov.sg. About one-north Developed by JTC Corp, one-north is Singapore's icon of the knowledge economy. It serves to provide an intellectually stimulating and creative environment for entrepreneurs, scientists and researchers to congregate, interact and exchange ideas; an exceptional place where this thriving community will work, live, play and learn. With a focus on knowledge-intensive activities in the biomedical, infocomms and media industries, it is slated to be a vibrant hotspot for innovation and test bedding. Covering almost 200 hectares, one-north will be developed in phases over a period of 15 to 20 years, integrating residential units, commercial hubs, tertiary and research institutes, sports facilities as well as green lungs. It is strategically located in the Buona Vista area (southern part of Singapore) near the National University of Singapore and Singapore Science Park and aims to be a focal point for research and development and technopreneurial activities. one-north is developed through a multi-government agency effort under the guidance of the Steering Committee chaired by Minister Lim Swee Say. JTC Corporation was appointed master developer for this project in September 2000. one-north's home page address on the World Wide Web is http://www.one-north.com About Crescendas Group Set up in 1982, Crescendas Group today is engaged in a diversified range of businesses in Real Estate, Manufacturing, Distribution and Technology. The Group?s facilities and operations are in Singapore, Malaysia, Vietnam, Laos, the People?s Republic of China and Germany. In real estate, Crescendas has developed a niche in build and lease of industrial projects and in the development of boutique residential properties in Singapore. Leveraging on its in-house turnkey design and build capabilities, it has ventured into the regional markets to develop commercial and residential projects. The companies under the Crescendas umbrella are privately controlled by Singaporean entrepreneur Mr Lawrence Leow. Mr Leow is also President of the Association of Small & Medium Enterprises. For more information on Crescendas Group, visit www.crescendas.com About JURONG Consultants JURONG Consultants is the consultancy arm of the JURONG International Group, a multi-disciplinary Group which also provides design and build and facilities management services. Its strategic objective is to create a distinctive edge in value enhancing the projects it undertakes including community environments for public and private sector clients throughout Asia and beyond. To date, it has more than 1000 completed projects in 130 cities across 37 countries, with offices in India, China and the UAE. For more information, please visit its website: www.jurong.com