Insider Trades

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Purchase of 5,000,000 shares in the open market.

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Grant of conditional award of 200,000 shares under the Banyan Tree Performance Share Plan ranging from a 2 to 3-year performance period from 1 January 2008 to 31 December 2010, subject to certain performance conditions being met and other terms and conditions.

An additional award of up to 140,000 may be granted if the performance conditions are exceeded.

The deemed interest of 650,000 shares is an aggregate of shares awarded to Mr Ariel P Vera pursuant to the Banyan Tree Performance Share Plan, subject to certain performance conditions being met and other terms and conditions.

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Grant of conditional award of 7,000 shares under the Banyan Tree Performance Share Plan subject to certain terms and conditions being met.

The deemed interest of 7,000 shares is the shares awarded to Mr Chia Chee Ming Timothy pursuant to the Banyan Tree Performance Share Plan, subject to certain terms and conditions being met.

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Grant of conditional award of 7,000 shares under the Banyan Tree Performance Share Plan subject to certain terms and conditions being met.

The 500,000 shares beneficially owned by Mr Dilhan Pillay Sandrasegara are held by Merrill Lynch (Singapore) Pte Ltd.

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Grant of conditional award of 6,000 shares under the Banyan Tree Performance Share Plan subject to certain terms and conditions being met.

The deemed interest of 6,000 shares is the shares awarded to Mrs Elizabeth Sam pursuant to the Banyan Tree Performance Share Plan, subject to certain terms and conditions being met.

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1. Grant of conditional award on 19 April 2007 of up to 310,000 ordinary shares in Banyan Tree Holdings Limited ("BTH") pursuant to the Banyan Tree Performance Share Plan, subject to certain performance conditions being met and other terms and conditions for the performance period ranging from 01.01.2007 to 31.12.2009.

2. Open Market Purchase of 100,000 BTH shares at an average price of $1.20 per share on 03.03.3008.

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Shares were disposed of through a series of transactions from 27/11/2007 through 29/11/2007.

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Shares were disposed of through a series of transactions from 31/10/2007 through 26/11/2007.

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Shares were disposed of through a series of transactions from 27/07/2007 through 30/10/2007.

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The change in the percentage level is the result of a series of transactions, details of which are as follows:-
Date of transaction: 22/08/2007
No of shares: 500,000
As a percentage of issued share capital: 0.07% Average amount of consideration (excluding brokerage and stamp duties) per share: S$2.03470.

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Bibace Investments Ltd acquired on 22/08/2007 additional 500,000 ordinary shares in Banyan Tree Holdings Limited in the open market at an average price (excluding brokerage and stamp duties) of S$2.03470 per share. I am deemed to have an interest in the ordinary shares in Banyan Tree Holdings Limited held by Bibace Investments Ltd.

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Bibace Investments Ltd acquired on 22/08/2007 additional 500,000 ordinary shares in Banyan Tree Holdings Limited in the open market at an average price (excluding brokerage and stamp duties) of S$2.03470 per share. I am deemed to have an interest in the ordinary shares in Banyan Tree Holdings Limited held by Bibace Investments Ltd.

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Bibace Investments Ltd acquired on 22/08/2007 additional 500,000 ordinary shares in Banyan Tree Holdings Limited in the open market at an average price (excluding brokerage and stamp duties) of S$2.03470 per share. We are deemed to have an interest in the ordinary shares in Banyan Tree Holdings Limited held by Bibace Investments Ltd.

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Share Purchase.

DBS Bank Ltd and UBS AG, acting through its business group, UBS Investment Bank, were the joint global co-ordinators and bookrunners of the initial public offering of the shares in Banyan Tree Holdings Limited.

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Shares were disposed of through a series of transactions from 16/07/2007 through 26/07/2007.

DBS Bank Ltd and UBS AG, acting through its business group, UBS Investment Bank, were the joint global co-ordinators and bookrunners of the initial public offering of the shares in Banyan Tree Holdings Limited.

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Shares were disposed of through a series of transactions from 05/07/2007 through 13/07/2007.

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Shares were purchased through a series of transactions from 08/12/06 to 09/02/07.

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Shares were purchased through open market transactions at shareholders discretion.

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Shares were purchased through open market transactions at shareholders discretion.

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Share Purchase.

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(1) Sale of 96,280 and 149,157 ordinary shares in Banyan Tree Holdings Limited by Recourse Investments Ltd and Changfung Investments Ltd, now known as KAP Holdings Ltd (of which I am deemed to have interests) respectively under the Over-allotment Options as described in the Prospectus dated 26/05/2006 in connection with the listing and quotation of ordinary shares of Banyan Tree Holdings Limited on the Mainboard of the SGX-ST on 14/06/2006.

(2) issue of new ordinary shares pursuant to the said Over-allotment Options, resulting in decrease in shareholding percentages of TRL Investments Ltd and Recourse Investments Ltd in Banyan Tree Holdings Limited (I am deemed to have interests in the ordinary shares of TRL Investments Ltd and Recourse Investments Ltd in Banyan Tree Holdings Limited).

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(1) Sale of 192,051 and 149,157 ordinary shares in Banyan Tree Holdings Limited by me and Changfung Investments Ltd, now known as KAP Holdings Ltd (of which I am deemed to have an interest) respectively under the Over-allotment Options as described in the Prospectus dated 26/05/2006 in connection with the listing and quotation of ordinary shares of Banyan Tree Holdings Limited on the Mainboard of the SGX-ST on 14/06/2006.

(2) issue of new ordinary shares in Banyan Tree Holdings Limited pursuant to the said Over-allotment Options, resulting in decrease in shareholding percentage of TRL Investments Ltd in Banyan Tree Holdings Limited (I am deemed to have an interest in the ordinary shares of TRL Investments Ltd in Banyan Tree Holdings Limited).

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(1) Sale of 96,280 and 149,157 ordinary shares in Banyan Tree Holdings Limited by Recourse Investments Ltd and Changfung Investments Ltd, now known as KAP Holdings Ltd (of which I am deemed to have interests) respectively under the Over-allotment Options as described in the Prospectus dated 26/05/2006 in connection with the listing and quotation of ordinary shares of Banyan Tree Holdings Limited on the Mainboard of the SGX-ST on 14/06/2006.

(2) issue of new ordinary shares pursuant to the said Over-allotment Options, resulting in decrease in shareholding percentages of TRL Investments Ltd and Recourse Investments Ltd in Banyan Tree Holdings Limited (I am deemed to have interests in the ordinary shares of TRL Investments Ltd and Recourse Investments Ltd in Banyan Tree Holdings Limited).

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(1) Sale of our 149,157 ordinary shares in Banyan Tree Holdings Limited under the Over-allotment Options as described in the Prospectus dated 26/05/2006 in connection with the listing and quotation of ordinary shares of Banyan Tree Holdings Limited on the Mainboard of the SGX-ST on 14/06/2006.

(2) issue of new ordinary shares pursuant to the said Over-allotment Options, resulting in decrease in shareholding percentage of TRL Investments Ltd in Banyan Tree Holdings Limited (KAP Holdings Ltd is deemed to have an interest in the shares of TRL Investments Ltd in Banyan Tree Holdings Limited).

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(1) Sale of our 96,280 ordinary shares in Banyan Tree Holdings Limited under the Over-allotment Options as described in the Prospectus dated 26/05/2006 in connection with the listing and quotation of ordinary shares of Banyan Tree Holdings Limited on the Mainboard of the SGX-ST on 14/06/2006.

(2) sale of 149,157 ordinary shares in Banyan Tree Holdings Limited by Changfung Investments Ltd, now known as KAP Holdings Ltd, (of which Recourse Investments Ltd is deemed to have an interest by virtue of its 80% shareholding in KAP Holdings Ltd) under the said Over-allotment Options.

(3) issue of new ordinary shares pursuant to the said Over-allotment Options, resulting in decrease in shareholding percentage of TRL Investments Ltd in Banyan Tree Holdings Limited (Recourse Investments Ltd is deemed to have an interest in the ordinary shares of TRL Investments Ltd in Banyan Tree Holdings Limited by virtue of its 80% shareholding in KAP Holdings Ltd, which has 48.8% shareholding in TRL Investments Ltd).

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Shares were purchased through open market transactions at shareholder discretion.

Shares were purchased through a series of transactions from 22/6/2006 through 24/7/2006.

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Pursuant to a share lending agreement dated 8 June 2006 between TRL Investments Ltd and UBS AG, the latter had borrowed 57,017,000 of shares ("Shares") in the share capital of Banyan Tree Holdings Limited ("BTHL").

The change in UBS AGs interest in the Shares arose from redelivery on 14 July 2006 of the borrowed Shares by transferring 29,240,000 Shares acquired by UBS AG pursuant to price stabilising action and 27,777,000 Shares acquired by UBS AG through the partial exercise of the over-allotment options granted by the vendors and BTHL pursuant to the initial public offering.

Accordingly, UBS AG ceased to hold any interest in the Shares which it acquired pursuant to price stabilising action and in the Shares comprised in the over-allotment options.

In addition, with the exercise of the over-allotment options, BTHL issued an additional 11,246,521 Shares and this resulted in dilution of UBS AGs percentage shareholdings in the issued share capital of BTHL.

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Sale under Over-allotment Option

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Change in deemed interests arising from UBS AGs direct and indirect shareholdings in UBS Global Asset Management and UBS Wealth Management

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Participation in the Initial Public Offering.

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Change in interest mainly due to:

(1) Long positions registered in the name of UBS AG London Branch on behalf of prime brokerage clients; and

(2) Long positions held by UBS AG London Branch for client facilitation purposes.

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Purchase of Reserved Shares at the Initial Public Offering of Banyan Tree Holdings Limited.

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Grant of Management Shares at no consideration at the Initial Public Offering of Banyan Tree Holdings Limited.

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Purchase of Reserved Shares at the Initial Public Offering of Banyan Tree Holdings Limited.

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Vendor at Initial Public Offeriing ("IPO"); and decrease in deemed shareholding percentage due to the issue of new shares pursuant to the IPO.

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Purchase of Reserved Shares at the Initial Public Offering of Banyan Tree Holdings Limited.

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Vendor Shareholder at the Initial Public Offering ("IPO") and decrease in deemed shareholding percentage due to issue of new shares pursuant to the IPO.

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Vendor Shareholder at Initial Public Offering.

Vendor Shareholder at Initial Public Offering ("IPO"); and decrease in deemed shareholding percentage due to the issue of new shares pursuant to the IPO.

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Purchase of Reserved Shares at the Initial Public Offering of Banyan Tree Holdings Limited.

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Grant of Management Shares at no consideration at the Initial Public Offering of Banyan Tree Holdings Limited.

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(1) Banyan Tree Holdings Limited ("BTH") and certain vendors (listed in the prospectus) have granted UBS AG, acting through its business group, UBS Investment Bank, over-allotment options to subscribe/purchase up to an aggregate of 57,017,000 shares, comprising 16,530,479 existing shares.

(2) On 14/06/2006, UBS AG, acting through its business group, UBS Investment Bank, has purchased an aggregate of 29,219,000 shares as part of its price stabilising actions effected to stabilise or maintain the market price of the shares in connection with the IPO.

(3) Part of the deemed interests in the shares of Banyan Tree Holdings Limited arise from UBS AGs direct and indirect shareholdings in UBS GAM which acquired interests of 17,300,000 shares on behalf of its discretionary clients through the IPO allocation.

Amount of Consideration:

1. Monetary consideration not applicable for grant of the over-allotment options. The shares comprised in the over-allotment options shall be paid for only to the extent exercised at S$0.97 per share.

2. S$0.85-S$0.93 per share for the shares purchased as part of the price stabilizing actions.

3. S$0.97 per share for shares acquired by UBS GAM in connection with the IPO allocation.

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Vendor Shareholder at the Initial Public Offering.

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Purchase of Reserved Shares at the Initial Public Offering of Banyan Tree Holdings Limited.

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Purchase of Reserved Shares at the Initial Public Offering of Banyan Tree Holdings Limited.

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Grant of Management Shares at no consideration at the Initial Public Offering of Banyan Tree Holdings Limited.

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Vendor Shareholder at Initial Public Offering.

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Vendor Shareholder at Initial Public Offering.