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October 2007

ST Electronics Completes Share Swap In Sino Stride Technology (Holdings) Limited For Shares In Shougang Concord Technology Holdings

Singapore, 24 October 2007 — Singapore Technologies Electronics Limited (ST Electronics) today announced, as a follow up to an earlier announcement on 5 September 2007, that pursuant to the fulfillment of all conditions precedent, it has completed the share swap of its entire 304,260,000 ordinary shares in the capital of its associated company, Sino Stride Technology (Holdings) Limited (SST), for 133,523,480 new ordinary shares in the capital of Shougang Concord Technology Holdings (SCT).

SCT and ST Electronics were the major shareholders of SST, with shareholdings of 71.6% and 28.1% respectively prior to the share swap.  Consequent to this share swap, ST Electronics now holds approximately 7% of SCT who in turn holds approximately 99.7% of SST.

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