Papa Bello Enterprises, Inc. establishes leasing agreement with CapitaRetail, one of the largest retail mall developers in China

Las Vegas, NV—September 10, 2008—(PRnewswire)--Papa Bello Enterprises, Inc. (Pink Sheets: PAPA.PK) is pleased to announce that the company has successfully established a leasing opportunity with CapitaRetail, one of the largest retail mall developers in the Peoples Republic of China. Papa Bello is scheduled to begin construction plans on its initial corporate store in Guangzhou, China beginning the first quarter of 2009. The agreement comes after several visits over the past six months to China by Papa Bello CEO Chase Canfield, 31 who says, “This relationship with CapitaRetail will quickly increase Papa Bello’s brand awareness and recognition as we enter the rapidly growing and emerging franchise market in China. Additionally, the immediate and future available locations enable us to efficiently manage all aspects relating to real estate logistics.”

CapitaRetail has expressed the intent to have Papa Bello be present in a number of its existing and future mall locations throughout China. CapitaRetail’s Leasing Director Ricky Peng states, “We are anxious to begin our relationship with Papa Bello, their experience working within major retail chains such as Wal-Mart will benefit both our companies.”

About CapitaRetail

CapitaLand Retail is the retail property business unit of the CapitaLand Group, which is one of the largest listed real estate companies in Asia, based on market capitalization. With a portfolio of over 92 retail malls in Singapore, China, India, Japan and Malaysia comprising a total of over 42 million square feet of net rentable area, it is one of the largest owners/managers of retail malls in Asia.

In Singapore, CapitaLand Retail is the largest retail owner/manager with 16 retail malls, comprising a total of over 5.3 million square feet of net rentable space, in the suburban and central areas. This includes the retail malls owned by private retail property fund, CapitaRetail Singapore Limited and Singapore’s first and largest Real Estate Investment Trust (REIT) by asset size and market capitalization, CapitaMall Trust (CMT). As at 24 January 2006, CMT has an asset size of approximately $3.6 billion USD and a market capitalization of approximately $3.7 billion USD.

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