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Latest NewsSeptember 2008Reduction In Shareholding In Polarsat Holdings Singapore, 9 September 2008 — Singapore Technologies Electronics Limited (ST Electronics) today announced that its shareholding interest in associated company, Polarsat Holdings Inc (Polarsat), has been reduced from 20.20% to 15.58%. The investment in Polarsat is held through its subsidiary, ST Electronics (Satcom & Sensor Systems) Pte Ltd (STEE-SatComS). The dilution in shareholding is due to the injection of new funds by investors in Polarsat as a result of its capital raising effort. The new capital to be raised will be used for research and development, and market development of Polarsat’s next generation of VSAT (Very Small Aperture Terminals) products. Consequent to the dilution, Polarsat will cease to be an associated company of STEE-SatComS. The dilution in shareholding in PolarSat 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. PolarSat is a privately-held company focused on the development and manufacture of satellite communications terminal equipment and systems. PolarSat’s head office and manufacturing plant is located in Dorval, Quebec, Canada. The company also has sales offices in Beijing and Jakarta. PolarSat offers VSATPlus II and FlexiDAMA product lines which enable state-of-the-art IP functionality including advanced Bandwidth on Demand (BoD), DAMA (Demand Assigned Multiple Access) capabilities and Turbo Product Codes. Please visit www.PolarSat.com ST Electronics, the electronics arm of ST Engineering, delivers innovative system solutions to government, commercial, defence, and industrial customers worldwide. With presence in more than 18 countries and 28 cities, ST Electronics markets its solutions to more than 70 countries internationally. 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, interactive digital media, intelligent building management and information security. Its subsidiary, ST Electronics (Satcom & Sensor Systems), is a leading supplier of very small aperture terminals and network solutions. Its customers include telecommunications service providers, corporate enterprises, financial institutions, defence, government agencies as well as the oil-and-gas industry. With its innovative products and solutions, ST Electronics enables its valuable customers in turn to provide high quality and value-added services to their end-users. Please visit www.stee.stengg.com. Media contact:Magdalen Loh
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