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February 2007

ST Engineering’s Electronics Unit Wins S$68.5M MRT Contract For Taiwan’s Taoyuan International Airport

Singapore, 2 February 2007 — Singapore Technologies Engineering Ltd (ST Engineering) today announced that its electronics arm, Singapore Technologies Electronics Limited (ST Electronics), has won a contract worth approximately $68.5 million from Marubeni Corporation for Taiwan Taoyuan International Airport Access MRT (Mass Rapid Transit) Construction Project.

This contract award 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 will design, supply, install and commission the MRT’s communications, supervisory control and data acquisition, platform screen doors and maintenance management systems. These state–of-the-art systems will facilitate travel between Taipei city and the airport in a safe, efficient and reliable manner. ST Electronics will complete the implementation of this 51.6km, 21 stations MRT line by 2013.

This is the first MRT system for the Taiwan’s Taoyuan airport. ST Electronics is pleased that it will play a part to implement this important link from the airport to Taipei city centre, greatly facilitating the quick and safe movement of passengers and travellers. Winning such a milestone project enhances our position as a leading provider of integrated solutions for rail transportation systems internationally.

SEAH Moon Ming,
President, ST Electronics

ST Electronics has participated in the rail transportation systems of Taipei and Kaohsiung. ST Electronics was first awarded a rail contract for the Nankang/Panchiao Line in Taipei in 1993. This was followed by other contracts including one for the Tucheng Line in 2000 and another in 2001 when Typhoon Nari incapacitated some stations of the Nankang/Panchiao Line. ST Electronics proved its ability to deliver quality rail solutions, and two more contracts were awarded in late 2002 and early 2003 by the Kaohsiung Rapid Transit Corporation for the Kaohsiung MRT Red and Orange Lines. In late 2004, ST Electronics was also awarded the Taipei Hsinchuang/Luchou MRT Lines project.

ST Electronics’ rail solutions are also deployed in Bangkok, Guangzhou, Manila and Singapore. It recently won a contract to provide an integrated traffic command centre system for the rapidly growing Beijing Mass Transit Network which is being constructed in preparation for the Beijing Olympics.

Marubeni Corporation is a worldwide general business solution company specializing in eleven major segments. In the field of railway project, Marubeni enhanced its leadership as a comprehensive solution turnkey contractor for public utilities and infrastructure projects, which include Roca Line Modernization Project in Argentina, Construction of Caracas-Tuy Medio Surburban Railway in Venezuela, Construction of Mass Transit Railway in Manila, Monorail Construction Project in Dubai and etc. Please visit www.marubeni.com.

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, real-time command & control, training and simulation, digital media, 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 $3.34b in FY2005. With a market capitalisation in the region of $10b, it ranks 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:

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