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News Release


Notice of Cessation Of Substantial Shareholding



Part 1
1. Date of notice to issuer * 14-06-2006
Name of Substantial Shareholder * NSL Resorts International Pte Ltd
Please tick one or more appropriate box(es): *
  • Notice of a Change in the Percentage Level of a Substantial Shareholder's Interest or Cessation of Interest. [Please complete Part III and IV]
  • Part 2
    1. Date of change of [Select Option]
    2. Name of Registered Holder
    3. Circumstance(s) giving rise to the interest or change in interest


    # Please specify details
    [Select Option]
    4. Information relating to shares held in the name of the Registered Holder
    No. of [Select Option] held before the change


    As a percentage of issued share capital
    %
    No. of N.A. which are subject of this notice


    As a percentage of issued share capital
    %
    Amount of consideration (excluding brokerage and stamp duties) per share paid or received
    No. of N.A. held after the change


    As a percentage of issued share capital
    %
    Part 3
    1. Date of change of Interest 14-06-2006
    2. The change in the percentage level From 15.47 % To 1.39 %
    3. Circumstance(s) giving rise to the interest or change in interest


    # Please specify details
    # Others


    Vendor Shareholder at Initial Public Offering
    4. A statement of whether the change in the percentage level is the result of a transaction or a series of transactions: The change in the percentage level is the result of a series of transactions.
    Part 4
    1. Holdings of Substantial Shareholder , including direct and deemed interest :
    Direct Deemed
    No. of shares held before the change 0 99,108,208
    As a percentage of issued share capital 0 % 15.47 %
    No. of shares held after the change 0 10,468,897
    As a percentage of issued share capital 0 % 1.39 %
    Footnote 1. NSL Resorts International Pte Ltd wholly owns Kilby Associates Limited. Accordingly, NSL Resorts International Pte Ltd is deemed to be interested in the 81,138,174 shares in Banyan Tree Holdings Limited held by Kilby Associates Limited.

    1. NSL Resorts International Pte Ltd wholly owns Kilby Associates Limited. Accordingly, NSL Resorts International Pte Ltd is deemed to be interested in the 81,138,174 shares in Banyan Tree Holdings Limited held by Kilby Associates Limited.
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