09 Jan 2002

SembCorp Marine Ltd – Brazilian Memorandum Of Understanding

SEMBCORP MARINE LTD – BRAZILIAN MEMORANDUM OF UNDERSTANDING

Jurong Shipyard’s associated company, Jurong Shipyard Inc. (JSI) has on January 3, 2002 signed a Memorandum of Understanding with Brazil’s Estaleiro Ilha S.A. (EISA) with the intention to acquire up to 80 per cent of EISA, a shipbuilding yard in Rio de Janeiro, Brazil.

JSI is presently conducting feasibility studies on an investment proposal in the shipyard. An announcement will be made upon finalisation of the terms and conditions of the proposal, if any.

Submitted by Lim Seh Li, Company Secretary on 9 January 2002.

For Media & Investor Contact:

Ms Judy Han
Investor Relations & Communications
Tel : 262-7203
Fax : 261-0738
E-mail : judy@jsl.com.sg

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