Jurong Technologies Industrial Corpn. Ltd ("Jurtech") is pleased to announce today that it has mandated DBS Bank Ltd. as Sole Arranger to set up a S$500 million Multi-currency Debt Issuance Programme ("Programme").

Under the proposed Programme, Jurtech may issue notes from time to time in Singapore dollars or in other currencies, in various amounts and tenures, and may bear fixed, floating or variable rates of interest. Hybrid notes and zero coupon notes may also be issued under the proposed Programme. The notes will be offered by Jurtech pursuant to exemptions invoked under Sections 274 and/or 275 of the Securities and Futures Act, Chapter 289 of Singapore.

The proceeds arising from the issue of notes under the proposed Programme are intended to be used for the general corporate purposes, including refinancing of its existing borrowings, working capital and capital expenditure requirements.

Mr Lee Lok Fui, President of Jurtech explained: "We have since around the middle of 2006 commenced several key business development efforts. These initiatives have been to date successful and the Group has seen new revenue streams from these new business segments. The Group expects that revenue from these new business segments to increase during the year. We intend to use part of the proceeds from the Programme to fund these new businesses."

An appropriate announcement will be released upon completion of the legal documentation of the Programme.