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St Engineering's Aerospace Arm Signs Transaero FOR IMMEDIATE RELEASE ST ENGINEERING’S AEROSPACE ARM SIGNS TRANSAERO AIRLINES AS PANAMA AEROSPACE ENGINEERING'S SECOND CUSTOMER Singapore, 26 October 2007 – Singapore Technologies Engineering Ltd (ST Engineering) today announced that Panama Aerospace Engineering Inc (PAE), a subsidiary of its aerospace arm Singapore Technologies Aerospace Ltd (ST Aerospace), has been awarded a contract worth US$3.1m (about S$4.5m) by Transaero Airlines (Transaero). This makes Transaero PAE’s second customer since PAE commenced operations in May this year. The contract is for C checks and maintenance work on Transaero’s fleet of 10 Boeing 737-500 aircraft. PAE will commence work on the first aircraft in October, targeting for redelivery in December this year. The last aircraft is expected to be redelivered in end 2008. This contract is not expected to have any material impact on the consolidated net tangible assets per share and earnings per share of ST Engineering for the current financial year. “We are pleased that Transaero has selected PAE for its maintenance requirements. This contract award is testament to our customers’ confidence in ST Aerospace and our initiative in PAE. We are confident that PAE will do well and continue to expand its customer base, and help to service ST Aerospace’s global customers.” ~ TAY Kok Khiang, President, ST Aerospace PAE, a wholly-owned subsidiary of ST Aerospace, currently performs maintenance and modification work for Panama’s national carrier, Copa Airlines. To date, it has redelivered five aircraft for Copa Airlines. PAE was recently awarded certifications from the Federal Aviation Administration (FAA) and the Bermuda Department of Civil Aviation (BDCA). With certification obtained from FAA, PAE is now able to service US-registered aircraft, and complement ST Aerospace’s facilities in the US – ST Mobile Aerospace Engineering (MAE) in Mobile, Alabama, and San Antonio Aerospace (SAA) in San Antonio, Texas. Page 1 of 3 ST Aerospace operates a global MRO network in key aviation hubs in the Americas, Asia Pacific and Europe. Its facilities in the Asia Pacific include ST Aerospace Engineering (STA Engrg) and ST Aviation Services Company (SASCO) in Singapore, and Shanghai Technologies Aerospace Company (STARCO) in Shanghai, China. ***** Transaero Airlines was established in November 1991 and is the second largest Russian airline in terms of passenger traffic. Serving close to 80 destinations for both domestic and international routes covering Africa, Americas, Asia and Europe, Transaero operates a fleet of 28 aircraft, including one Tupolev Tu-214, seven Boeing 747s, seven Boeing 767s, and 13 Boeing 737s. ST Aerospace is the aerospace arm of ST Engineering. Operating a global MRO network with facilities in the Americas, Asia Pacific and Europe, it is the world's largest airframe MRO provider with a global customer base that includes many of the world's leading airlines, airfreight operators and military operators. ST Aerospace provides a full spectrum of maintenance and engineering services through its two business segments: Aircraft Maintenance & Modification (AMM) and Component & Engine Total Support (CETS). Its services include airframe, engine and component maintenance, repair and overhaul; engineering design and technical services; and aviation materials and management services, including Total Aviation Support. ST Aerospace has a global staff strength of more than 6,000 engineers and technical specialists. Please visit www.staero.aero. ST Engineering is an integrated engineering group providing solutions and services in the aerospace, electronics, land systems and marine sectors. Headquartered in Singapore, the Group reported revenues of $4.49b in FY2006. With a market capitalisation of over $10b, it ranks among the largest companies listed on the Singapore Exchange. ST Engineering has more than 18,000 employees worldwide, and over 100 subsidiaries and associated companies in 20 countries and 35 cities. Please visit www.stengg.com. Media Contacts: Sharolyn Choy VP / Director, Corporate Communications ST Engineering Tel: (65) 6722 1883 Fax: (65) 6720 2293 Email: [email protected] Audrey Tan AVP, Corporate Communications ST Aerospace Page 2 of 3 Tel: (65) 6380 6152 Fax: (65) 6280 8213 Email: [email protected] Page 3 of 3 .
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