Indonesian Air Force Awards ST Aerospace With C-130B Retrofit Contract

Program commences immediately and is expected to be completed over 30 months.

Dec. 2, 2008

SINGAPORE – Singapore Technologies Aerospace Ltd (ST Aerospace), the aerospace arm of Singapore Technologies Engineering Ltd (ST Engineering), announces that it has been awarded a US$51m (about S$75m) contract to perform maintenance and modification on four C-130B aircraft for the Indonesian Air Force (IAF). The program commences immediately and is expected to be completed over 30 months. The work will be performed by its subsidiary, ST Aerospace Engineering Pte Ltd (STA Engineering).

This contract 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.

"We are pleased that the Indonesian Air Force has selected us for this program," says Tay Kok Khiang, President, ST Aerospace. "We have previously provided services to IAF, and the continued endorsement through this new contract demonstrates its satisfaction with our quality proposition. With our extensive experience on the C-130 and our performances in serving leading air forces and airlines around the world, we look forward to bring value to the IAF and meet its expectations."

For more information visit www.staero.aero.