Acquisition of Shares in SembCorp Marine Ltd

Singapore, Oct 24, 2000

SembCorp Industries wishes to announce that its wholly-owned subsidiary, Sembawang Corporation Ltd, has acquired 6,200,000 ordinary shares of $0.10 each in the capital of SembCorp Marine Ltd from the open market at a consideration of $0.70 per share.

Following the acquisition, SembCorp Industries’ share holding in SembCorp Marine increases from 63.04 per cent to 63.49 per cent.

The acquisition has no significant 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
October 24, 2000

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