The Board of Director of IPC Corporation Limited (“the Company”) wishes to announce:

(A) Appointment of a Non-Executive Director
Mr Seah Seow Kang Steven has been appointed as a Non-Executive Director of the
Company with effect from 2 September 2002.

Following this change, the Board of Directors of the Company comprises:

Mr Patrick Ngiam Mia Je - Executive Chairman & CEO
Mr Benjamin Ngiam Mia Kiat - Managing Director
Ms Lauw Hui Kian - Executive Director
Mr Bernard Ngiam Mia Hai - Executive Director
Mr Alfred Ngiam Mia Hong - Executive Director
Mr Michael William Driscoll - Executive Director
Mr Lee Joo Hai - Independent & Non-Executive Director
Mr Phillip Lee Soo Hoon - Independent & Non-Executive Director
Mr Seah Seow Kang Steven - Independent & Non-Executive Director

(B) Formation of the Nominating Committee and Remuneration Committee
The Company’s Nominating Committee and Remuneration Committee were both formed on 2 September 2002, comprising the following members:-

Nominating Committee

Mr Lee Joo Hai (Chairman) - Independent Director
Mr Seah Seow Kang Steven - Independent Director
Mr Patrick Ngiam Mia Je
(Alternate – Mr Benjamin Ngiam Mia Kiat) - Executive Director

Remuneration Committee

Mr Seah Seow Kang Steven (Chairman) - Independent Director
Mr Phillip Lee Soo Hoon - Independent Director
Ms Lauw Hui Kian
(Alternate – Mr Bernard Ngiam Mia Hai) - Executive Director

(C) Composition of the Audit Committee
Mr Seah Seow Keng Steven, has also been appointed member of the Company’s Audit Committee with effect from 2 September 2002. Ms Lauw Hui Kian, an executive Director, has stepped down from the Audit Committee on the same date.

Consequently, the Company’s Audit Committee comprises:

Mr Phillip Lee Soo Hoon (Chairman) - Independent Director
Mr Lee Joo Hai - Independent Director
Mr Seah Seow Kang Steven - Independent Director

The above changes are in compliance with some recommendations of the Code of Corporate Governance.

Submitted by Bernard Ngiam Mia Hai, Director/Company Secretary on 02/09/2002 to the SGX