Acquisition of Semac approved by SembCorp Industries' Shareholders

Singapore, Nov 07, 2000

SembCorp Industries wishes to announce that following the approval obtained from its shareholders at the Extraordinary General Meeting held on October 31, 2000 for the proposed acquisition of SemacPte Ltd by its wholly-owned subsidiary, SembCorp Waste Management Pte Ltd(SembWM), SembWM had on November 6, 2000 completed the acquisition.

SembCorp Industries has also subscribed for another60 million ordinary shares of $1.00 each at par in the capital of SembWM. After the subscription, SembCorp Industrieswill hold 65,132,000 ordinary shares in SembWM.

The increase in the share capital of SembWM has no material impact on the earnings and net tangible assets per share of SembCorp Industries.

By Order of the Board
Linda Hoon Siew Kin
Group Company Secretary
November 7, 2000

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