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December 2007

ST Electronics Wins S$36M MRT Contract For Taipei’s Songshan And Xinyi Lines

Singapore, 5 December 2007 — Singapore Technologies Electronics today announced that it has won a contract worth about S$36m from Marubeni Corporation for Taipei’s Songshan and Xinyi MRT (Mass Rapid Transit) Lines.

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 System and the train-borne Communications System for the SongShan and Xinyi Lines. The new Communications System for the two new lines will be integrated into the existing systems of the Red/Green Line network at the existing Operation Control Center (OCC). These state–of-the-art systems will facilitate an efficient, reliable and safe mode of transportation in Taipei city.  ST Electronics will begin work on the 6.4km Xinyi Line with its six underground stations and the 8.5km Songshan Line with eight underground stations, in the first quarter of 2008.  Completion is expected to be in 2012 and 2013 respectively.

ST Electronics’ MRT system solutions have been well accepted internationally including a recent contract award in Turkey. We have already successfully implemented rail communications systems in Taipei for the Blue, Orange and Tucheng Lines and are now completing Platform Screen Doors and Communications Systems for Kaohsiung Red and Orange Line. The award of this contract is another testimony of our ability to deliver quality, reliable and cost effective rail systems. It also enhances our position as a leading provider of integrated solutions for rail transportation systems internationally.

SEAH Moon Ming
President, ST Electronics

This is the fourth contract from Marubeni to ST Electronics in the international market and the third consecutive order in recent years after Taiwan Taoyuan Airport MRT and Turkey’s Marmaray Line. ST Electronics has been participating in the rail transportation systems of Taipei and Kaohsiung since early 1990s. It was first awarded a rail contract for the Nankang/Panchiao Line in Taipei in 1993. This was followed by Taipei’s Tucheng Line in 2000 and Taipei’s Nari Contract in 2001 when Typhoon Nari incapacitated some stations of the Nankang/Panchiao Line. The Kaohsiung MRT Red and Orange Lines were added in late 2002 and early 2003. ST Electronics won the Taipei’s Hsinchuang/Luchou MRT Lines project in 2004 and earlier this year it was awarded the Taiwan Taoyuan International Airport Access MRT System Construction Project.

ST Electronics’ rail solutions are also deployed in Bangkok, Beijing, Guangzhou, Manila and Singapore. It recently won a contract to provide the Communications and Automatic fare Collection Systems for Turkey’s Marmaray Line.

Marubeni Corporation is a worldwide general business solution company specialising 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 and communications systems, such as broadband radio frequency and satellite communication, e-Government solutions, information communications technologies and IT, rail and traffic management, real-time 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 of over $11b, it ranks among the largest companies listed on the Singapore Exchange.  ST Engineering has more than 18,000 employees worldwide, and over 100 subsidiaries and associated companies 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