Issuer:                          Overseas Union Enterprise Limited

Security:                      Mandarin Orchard Singapore ("HOTEL") and Mandarin Gallery ("GALLERY")

Bond Issue Size:          Up to S$[300,000,000] Secured Fixed rate notes

Purpose:                      For the Issuer's general working capitals and general corporate funding purposes

Issue Date:                   [  October] 2010

Maturity Date:               [  September] 2013

Indicative Cpn:             [3] yrs SGD IRS + [230]bps area (Approx 3.40%)

Issue Price:                  100

Early Redemption:       The notes may be redeemable by the Issuer as a result of the sale of the Property on any Interest Payment Date ("IPD") falling on or after the 2nd IPD from the Issue Date. Subject to the following redemption price:         on 2nd IPD : [103]%

                                                                                                            on 3rd IPD : [102]%

                                                                                                            on 4th IPD : [102]%

                                                                                                            on 5th IPD : [101]%

Redemption:                100

Denomination:             SGD250k