ST Aerospace Receives Approval to Establish Aircraft Repair Facility in Guangzhou, China

Singapore, 31 January 2011 – ST Aerospace today announced that its joint venture (JV) company, ST Aerospace (Guangzhou) Aviation Services Company Limited, has received the business licence from the Administration of Industry and Commerce of the Guangzhou Municipality to establish its aircraft repair facility in Guangzhou, China. This follows an announcement made on 20 July 2010 that ST Aerospace had concluded joint venture discussions to set up a commercial aircraft heavy maintenance facility in Guangzhou, China. ST Aerospace (Guangzhou) Aviation Services Company Limited is a joint venture (JV) between Guangdong Airport Management Corporation (51%) and ST Aerospace (49%). It has already received endorsement from the Civil Aviation Administration of China and approval from the Ministry of Commerce respectively.

ST Aerospace (Guangzhou) Aviation Services Company Limited will have a total paid up capital of US$99m.

The JV company will be an associated company of ST Aerospace and will be operated and managed as a part of ST Aerospace’s global network of maintenance, repair and overhaul (MRO) facilities. Expected to begin operations in the second half of 2013, it will perform commercial aircraft MRO for Airbus, Boeing and McDonnell Douglas aircraft.

The investment 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 Aerospace (Singapore Technologies Aerospace Ltd) is the aerospace arm of ST Engineering. Operating a global MRO network with facilities in the Americas, Asia Pacific and Europe, it is the world’s largest aircraft MRO provider with a global customer base that includes leading airlines, airfreight and military operators. ST Aerospace is an integrated service provider that offers a spectrum of maintenance and engineering services that include airframe, engine and component maintenance, repair and overhaul; engineering design and technical services; and aviation materials and management services, including Total Aviation Support. ST Aerospace has a global staff strength of more than 8,000 engineers and technical specialists. Please visit www.staero.aero.