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December 2006

ST Engineering Completes Acquisition Of MÄK Technologies, Inc.

Singapore, 21 December 2006 — Singapore Technologies Engineering Ltd (ST Engineering) today announced, as a follow up to an earlier announcement on 4 October 2006, that its US company, Vision Technologies Kinetics, Inc (VTK), has completed its acquisition of 80% of US-based MÄK Technologies, Inc. (MÄK) The acquisition follows the receipt of regulatory approvals and fulfillment of other closing conditions.

MÄK is a world leader in simulation software to link, simulate and visualise the virtual worlds in a networked synthetic environment.  The company builds commercial-off-the-shelf simulation tools and toolkits that are used in developing trainers and simulators, from sophisticated networked mission training simulators to desk-top training simulations.  MÄK also uses its expertise to provide customised simulation solutions, and researches and develops the latest simulation technologies.  Its customer base includes industry leading companies such as Raytheon, Lockheed Martin, Boeing, BAE and Thales.

MÄK Technologies Inc was founded in 1990 and develops software to link, simulate and visualize the virtual world. The company creates tools and toolkits for distributed simulations, develops PC-based military tactical trainers, crafts custom solutions, and researches and develops the latest simulation technologies.  Please visit www.mak.com.

ST Engineering is an integrated engineering group providing solutions and services in the aerospace, electronics, land systems and marine sectors.  Headquartered in Singapore, the Group reported revenues of $3.34b in FY2005.  Its market capitalisation of over $8b ranks it among the largest companies listed on the Singapore Exchange.  ST Engineering has about 16,000 employees worldwide, and over 100 subsidiaries in 20 countries and 35 cities. Please visit www.stengg.com

Media contact:

Lim Beng See
VP / Head, Corporate Communications
Singapore Technologies Engineering Ltd
Tel: (65) 6722-1883
Fax: (65) 6720-2293
Email: limbs@stengg.com

Magdalen Loh
AVP / Head, Corporate Communications
Singapore Technologies Electronics Limited
Tel: (65) 6413 1788 / 9822 3321
Fax: (65) 6484 8840
Email: magloh@stee.stengg.com