Released on: August 16, 2008, 4:51 am

Press Release Author: ST Aerospace

Industry: Aerospace

Press Release Summary: Singapore Technologies Aerospace Ltd (ST Aerospace) today
announced that it has completed the purchase of SAS AB’s (SAS) 28.7% shareholding in
ST Aerospace Solutions (Europe) A/S (STA Solutions) for a sum of €28.3m, which was
arrived at based on fair market value agreed between both parties.

Press Release Body: The purchase follows the exercise of a put option by SAS
pursuant to the Shareholders’ Agreement entered into between SAS and ST Aerospace on
15 March 2006. With the completion of the purchase, STA Solutions will become a
wholly-owned subsidiary of ST Aerospace. STA Solutions was formerly known as SAS
Component A/S.

This acquisition 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.

STA Solutions is currently operated and managed as part of ST Aerospace’s network of
aircraft MRO facilities. It operates warehouses and repair facilities located at
Copenhagen, Stockholm, Oslo and Stansted. With STA Solutions, STA Systems and STA
Supplies, ST Aerospace today is able to provide a more complete AIRCRAFT COMPONENT
TOTAL SUPPORT SOLUTION to customers.

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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 $5.05b in FY2007. With a market
capitalisation of about $9b, 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 21 countries and 35 cities.
http://www.stengg.com.

ST Aerospace is the aerospace arm of ST Engineering. Operating a global AIRCRAFT
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:
1) Aircraft Maintenance & Modification (AMM)
http://www.staero.aero/www/businesssegment.asp?bussubid=NTAwMDA
2) Component & Engine Total Support (CETS)
http://www.staero.aero/www/businesssegment.asp?bussubid=NTAwMDM

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 SOLUTION. ST Aerospace has a global
staff strength of more than 7,000 engineers and technical specialists.

Web Site: http://www.staero.aero

Contact Details: Media Contacts:
Sharolyn Choy
VP / Director, Corporate Communications
ST Engineering
Tel: (65) 6722 1883
Fax: (65) 6720 2293
Email: sharolynchoy@stengg.com

Audrey Tan
Head, Corporate Communications
ST Aerospace
540 Airport Road
Singapore 539938
Tel: (65) 6380 6152
Fax: (65) 6280 8213
Website: http://www.staero.aero
Email: audreytan@stengg.com