Further to our announcement made on 11 March 2002, we wish to provide further information:

1. The contract value cannot be determined until the execution or performance of the contract.

2. The contract is valid for 15 months effective from March 2002.

3. The transaction would have a material impact on the net tangible asset backing and earnings per share of the Group in respect of the accounts for the current financial year, subject to the actual performance of the contract.

Submitted by Patrick Ngiam Mia Je, Director on 12/03/2002 to the SGX