08 Nov 2004

Approval By PRC Regulatory Authority For SembCorp Marine To Acquire 30 Per Cent Equity Interest In Cosco Shipyard Group Co., Ltd

Following our earlier announcement dated July 21, 2004, SembCorp Marine is pleased to announce that the PRC regulatory authority has on November 5, 2004 granted approval for the Company to acquire 30% equity stake in the registered capital of Cosco Shipyard Group Co., Ltd. With this approval, SembCorp Marine shall proceed to apply for the business license and an appropriate announcement will be made accordingly.

Details of the announcement on our Cosco Shipyard Group 30% acquisition are available on our earlier press release dated July 21, 2004.

For media & analysts enquiries, please contact:

Judy Han (Ms)
Vice President
Investor Relations & Communications
Tel No : (65) 6262 7203
Fax No : (65) 6261 0738
Email : judy@sembcorpmarine.com.sg