The Board of Directors of Jurong Technologies Industrial Corpn Ltd ("Jurtech") refers to the announcement on 23 April 2007 concerning the entry into by Jurtech of the agreement to acquire 63.935% of the issued share capital in SEB. Jurtech currently holds 36.065% of the issued share capital in SEB.

Jurtech will, in connection with the above acquisition, issue 12,147,650 new ordinary shares in itself.

The SGX-ST has on 11 July 2007 granted its in principle approval to Jurtech?s application for the listing and quotation of the above shares, subject to:

(a) Compliance with continuing listing requirements and guidelines;
(b) A valid share issue mandate being available and sufficient for the issue and allotment of the New Shares; and
(c) Submission of Notification in Rule 864(4), if applicable, upon any significant changes affecting the matter in the application.

The SGX-ST?s approval in principle is not an indication of the merits of Jurtech, its securities, the aforesaid new shares to be issued, or the proposed acquisition.

Jurtech will proceed to completion of the acquisition.