Sembcorp Marine and BNP Paribas Reach Full and Final Settlement

Singapore, Dec 24, 2008

Sembcorp Marine wishes to announce that its subsidiary, Jurong Shipyard, has reached agreement with BNP Paribas for a full and final amicable settlement of their claim of US$50.7 million, strictly on commercial basis. 

Arising from the settlement, a charge of approximately US$30 million will be taken in the fourth quarter of 2008.

For media and analysts enquiries, please contact:

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

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