Jardine Strategic Holdings Limited 2010 Preliminary Announcement of Results

Hamilton, Bermuda – 07 March, 2011 - Jardine Strategic Holdings Limited (the ‘Company’; Ticker: JSHBD.BH) released their preliminary announcement of results for the year ended 31 December, 2010. Sir Henry Cheswick, Chairman, stated:

Highlights

• Underlying earnings per share* up 33%

• Excellent results from across the Group

• Significant increase in value of Hongkong Land’s property portfolio

Overview

The strong markets in Asia have underpinned some excellent performances from the Group companies and have enabled the Company to report another fine result for 2010. The contribution from Southeast Asia represented a greater proportion of the Group’s underlying profit for the year, largely due to outstanding results from Astra in Indonesia.

Performance Jardine Strategic produced a record underlying profit in 2010 of US$1,439 million, an increase of 32%. Underlying earnings per share were 33% higher at US$2.32. The significant improvement benefited from comparison with a relatively weak first half in 2009.

The Group’s revenue in 2010, including 100% of Jardine Matheson, associates and joint ventures, was US$47 billion, compared with US$36 billion in 2009.

Within Jardine Matheson’s interests, Jardine Pacific saw good performances across its operations, leading to another record profit, while a strong first half enabled Jardine Motors also to produce an excellent result. Jardine Lloyd Thompson continued to progress well.

Hongkong Land’s impressive result included notable gains on completion of residential development projects, while Dairy Farm achieved higher earnings in most of its banners.

Mandarin Oriental saw profits start to recover following improvements in occupancy and room rates. Jardine Cycle & Carriage’s earnings reflected the record results achieved by Astra, enhanced on translation by the strength of the rupiah.

Non-trading items in 2010 primarily consisted of the Group’s share of the increase in the valuation of investment properties, including US$1,990 million from Hongkong Land and US$10 million from Jardine Pacific, and a US$87 million share of the increase in the fair value of Astra’s plantations recognized within Jardine Cycle & Carriage. Accounting standards require these revaluations to be taken through the profit and loss account.

The result was a profit attributable to shareholders for 2010 of US$3,535 million, compared with US$1,988 million in 2009. Following a change in accounting standards, the Group is no longer required to provide for deferred tax on valuation gains on which no such tax liability would arise.

The Group enjoys strong operating cash flows, ample committed facilities and ready access to capital markets. Capital investment by the Group, on a consolidated basis, amounted to US$1.8 billion in 2010. The consolidated net debt at the end of 2010, excluding financial services companies, was US$2.3 billion, representing gearing of 7%.

The Board is recommending a final dividend of US¢15.00 per share, an overall increase of 5% for the full year.

Business Developments

Within Jardine Matheson, Jardine Pacific’s earnings reflected both organic growth and expansion within its existing business portfolio. Developments included an increased shareholding in air cargo terminal operator HACTL, significant new infrastructure contracts won by Gammon, the growth of its Restaurants group in Taiwan and Vietnam through acquisitions, and the recent purchase by JOS of an IT distribution business. Jardine Motors continued to grow profitably in Southern China where it now has 17 outlets, with a further five under development. Jardine Lloyd Thompson’s earnings benefited from the investment made in its traditional and emerging markets businesses through acquisitions, the recruitment of professionals and system upgrades.

Hongkong Land’s commercial property activities in Hong Kong and Singapore performed well in 2010 and the company continued to build its residential development portfolio with the emphasis on Singapore and mainland China. In February 2011, it completed the privatization of its subsidiary, MCL Land, a Singapore residential property developer. The reduced number of residential development completions scheduled for 2011 will result in a lower contribution to Hongkong Land’s earnings from this sector than in recent years.

Dairy Farm produced a satisfactory increase in earnings, ending the year with strong finances and leading positions for its main formats in their respective market segments.

Expansion continued in 2010 with the total number of outlets increasing by 6% to 5,386.

The group plans to invest further in the development of hypermarkets and supermarkets, particularly in Indonesia and Malaysia, and in the refurbishment of its existing store networks.

Despite the recent challenging market conditions, Mandarin Oriental’s growth strategy remains on track. Last year the group announced three additional hotel development projects; new properties in Abu Dhabi and Doha will mark the group’s entry into the Middle East when they open in 2014, while a new hotel in Shanghai, opening in 2013, will be its fourth hotel in mainland China. This year Mandarin Oriental will also add a hotel in Paris.

Astra benefited from the 6% growth of the Indonesian economy in 2010 and robust market conditions. Good performances from its automotive, financial services and heavy equipment activities enabled the group to achieve a record profit for the year. Its rate of growth, however, is expected to moderate in 2011.

Outlook

After an outstanding performance in 2010 growth will be harder to achieve in the current year, due largely to the reduced number of residential project completions planned by Hongkong Land. Nevertheless, the Group’s businesses are continuing to invest in their strong market positions. The steady earnings growth and low levels of net debt achieved in recent years provide a sound financial base on which to support this development.

Sir Henry Keswick

Chairman

4th March 2011

For further information, please contact:

Jardine Matheson Limited

James Riley (852) 2843 8229

GolinHarris

Kennes Young (852) 2501 7987

Full text of the Preliminary Announcement of Results and the Preliminary Financial Statements for the year ended 31st December 2010 can be accessed through the Internet at www.jardines.com