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Latest NewsApril 2007ST Engineering Sells Its Stake In Sandz Solutions Singapore, 10 April 2007 — Singapore Technologies Engineering Ltd (ST Engineering) today announced that ST Electronics (Info-Software Systems) Pte. Ltd. (STEE-InfoSoft) has entered into an agreement to sell its entire 25% equity stake in Sandz Solutions (Singapore) Pte Ltd (Sandz) to Sandz's major shareholder for S$2.7 million in cash. The consideration was made on a willing buyer, willing seller basis. STEE-InfoSoft is a wholly-owned subsidiary of ST Engineering's electronics arm, Singapore Technologies Electronics Limited (ST Electronics). The sale of shares in Sandz 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. STEE-InfoSoft invested in Sandz in 2004. The decision for the sale is a result of a rationalisation exercise to streamline ST Electronics' portfolio of associated companies. Consequent to the sale, Sandz ceases to be an associated company of STEE-InfoSoft. Sandz incorporated in 2000, is a Pan-Asian solution provider delivering business solutions to customers with an emphasis on high performance computing, enterprise storage and digital media. With a strong local presence in five countries, its services range from business and technology consultancy to system installation, commission and maintenance. 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 about 17,000 employees worldwide, and over 100 subsidiaries in 20 countries and 35 cities. Please visit www.stengg.com. Media contact:Letticia Fong Magdalen Loh
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