Singapore, Dec 28, 2001

Sembawang Land Pte Ltd, a subsidiary of SembCorp Industries, has sold one of the remaining two apartment units of its residential development at Paterson Road called The Paterson Edge to one of its Group’s employee.

SembCorp’s Audit Committee and Board of Directors are satisfied that the terms of the sale are fair and reasonable and in the best interests of the Company, and had accordingly approved the sale.

By Order of the Board
Linda Hoon Siew Kin
Group Company Secretary
December 28, 2001

Submitted by Linda Hoon Siew Kin, Group Company Secretary on 28/12/2001 to the SGX

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