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Latest NewsMarch 2007ST Engineering’s Electronics Arm Increases Stake In Ripple Systems Singapore, 1 March 2007 — Singapore Technologies Engineering Ltd (ST Engineering) today announced that its electronics arm, Singapore Technologies Electronics Limited (ST Electronics), has entered into an agreement to acquire the remaining 30% share equity in Ripple Systems Pty Limited (Ripple Systems) for a total consideration of A$1.00. The consideration was arrived at on a willing-buyer-willing-seller basis. Ripple Systems is a subsidiary of ST Electronics incorporated in Perth, Australia. This acquisition is not expected to have any material impact on the consolidated net tangible assets per share and earnings per share of ST Engineering for the current financial year. ST Electronics acquired a 70% interest in Ripple Systems in November 2002. The other 30% share in Ripple Systems was held by Ripple Systems’ management. The investment in Ripple Systems gave ST Electronics access to additional capabilities and resources to deliver a comprehensive software solution that integrates various Intelligent Transportation and Intelligent Rail Management technologies for customers in Singapore and other regional and international markets. On completion of the acquisition, Ripple Systems will become a wholly owned subsidiary of ST Electronics. This allows ST Electronics to have 100% ownership of its transportation software architecture and capabilities. ST Electronics, the electronics arm of ST Engineering, delivers innovative system solutions to government, commercial, defence, and industrial customers worldwide. It specialises in the design, development and integration of advanced electronics systems, such as broadband radio frequency and satellite communication, e-government solutions, information communications technologies, rail and traffic management, realtime command & control, training and simulation, intelligent building management, and information security and mobile commerce solutions. Please visit www.stee.stengg.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 $4.49b in FY2006. With a market capitalisation in the region of $10b, it ranks among the largest companies listed on the Singapore Exchange. ST Engineering has more than 17,000 employees worldwide, and over 100 subsidiaries in 20 countries and 35 cities. Please visit www.stengg.com Media contact:Magdalen Loh
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