Investors

The Board of Directors of the Company wishes to announce that the Singapore Exchange Securities Trading Limited ("SGX-ST") has, on 27 August 2001, approved in-principle the listing and quotation of new ordinary shares of $0.05 each in the capital of the Company to be issued pursuant to the exercise of options to be granted pursuant to the US Plan and the Modified Scheme.

The in-principle approval granted by the SGX-ST is not an indication of the merits of the US Plan or the Modified Scheme.

The adoption and implementation of the US Plan and the Modified Scheme are subject to the approval of the Company's shareholders at a general meeting to be convened in due course. A circular containing information on the US Plan and the Modified Scheme will be despatched to the Company's shareholders in due course.