MEDIA RELEASE

6 January 2005

TEMASEK’S RELIEF EFFORTS IN ASIA’S TSUNAMI DISASTER

Singapore, 6 January 2005 - Temasek Holdings would like to express its deepest sympathy to the victims and survivors of the tsunami which left thousands dead and millions hurt and homeless across South and Southeast Asia. Temasek is committed to a multi-pronged approach to support the relief, recovery and reconstruction efforts.

Ms Ho Ching, CEO of Temasek, said, “The horrific scale of this tsunami is unprecedented, touching lives and nations even as far away as Sweden. We send our deepest condolences to the families and friends of those who have died in the tsunami. Our hearts are also with those whose loved ones are missing or uncontactable. We will continue to do our part to help in the recovery and reconstruction efforts, especially in the worst hit areas. This is one concrete way to re-affirm our common bonds of humanity with the survivors in their hour of need.”

“We have set aside US$10 million for relief, recovery and reconstruction support. We have already disbursed or committed US$1 million for immediate relief in the first week of the disaster. The balance is earmarked for recovery and reconstruction efforts in the coming weeks and months, especially in the worst hit area of Aceh. Apart from funds, we have also leveraged on our network of partnerships with companies, NGOs, governments and private groups to focus on resolving issues such as logistics, water, communications and medical care, to help aid to reach those in need. We will continue to work with partners to support the recovery and reconstruction efforts”, Ms Ho added.

A small team of Temasek staff was activated and recalled immediately from their year-end holiday when news about the disaster broke. The team has been working proactively to identify areas of need and to liaise with the relevant organizations, companies and agencies to ensure that emergency assistance can reach the ground effectively. Temasek’s support is essentially in three phases:

Phase 1 - immediate disaster relief. Temasek has been working with the Singapore Red Cross, Mercy Relief and NTUC Fairprice to support their effort to send food, water and medical supplies to victims in the affected countries in the region.

Phase 2 - short-term disaster recovery. These include provision of community support systems such as power and water supplies, doctors, communications systems to facilitate disaster recovery and prevent epidemics over the next few weeks. These efforts are sponsored jointly with Temasek-Linked Companies (TLCs) and other private and public organisations. For example, at the request of Indonesian parties, Temasek worked with volunteer doctors from Alexandra Hospital to organise and prepare for possible airlift for victims in Banda Aceh suffering from serious injuries to Singapore for treatment. Temasek is also partnering Hyflux, a company specializing in water-related technology, to supply water generation as well as water purification systems to Aceh.

Phase 3 – medium-term reconstruction. This includes reconstruction and rebuilding of basic infrastructure for the community such as hospitals, schools, power and water systems. It may also include assistance for post-trauma rehabilitation of victims and their medical care including counselling.

Mr Ong Boon Hwee, a Managing Director of Temasek who leads the tsunami relief workgroup in Temasek, added, “We are very heartened by the responsive initiatives by the TLCs such as ST Engineering, Keppel Engineering, SIA, Tiger Airways, NOL-APL, PSA and SembCorp Logistics, among many others. We are working with various TLCs and many other companies to bring together capabilities, equipment and personnel to provide support in communications, logistics, supplies and other services in Aceh, Phuket, Sri Lanka, Maldives, and elsewhere. Others like SembCorp Environmental Management, MediaCorp, DBS, and many others, have also lent their support in fund raising.”

“Our Indonesian companies - Bank Danamon, BII and Indosat have also been contributing to the relief efforts in some of the badly hit areas in the immediate aftermath of the earthquake and tsumami. Their staff rallied around their affected colleagues, and have begun to reach out to others in the community under very difficult environment. We are supporting them in their fund raising efforts. Staff in Indosat have also made tremendous efforts under trying conditions to assess damage, bring in equipment and restore cellular operations very quickly”, added Mr Ong.

In the coming weeks, Temasek will continue to work with the various companies and relevant agencies to see how we can best contribute to the disaster recovery and reconstruction efforts.

The staff of Temasek, led by the voluntary Temasek Cares Committee, is also raising additional funds for Mercy Relief to provide medical supplies and health-related equipment for the Aceh victims and relief workers.

About Temasek Holdings

Temasek Holdings is an Asia investment company headquartered in Singapore. We are committed to maximising long-term shareholder value as an active investor and shareholder of successful enterprises.

Established in 1974, we manage a diversified global portfolio of S$90 billion, spanning Singapore, Asia and the OECD economies. Our investments are in a range of industries: telecommunications and media, financial services, property, transportation and logistics, energy and resources, infrastructure, engineering and technology, as well as pharmaceuticals and biosciences.

Singapore-based Temasek-linked companies include well-known listed firms such as Singapore Airlines, SingTel, DBS Bank, SMRT Corporation and Neptune Orient Lines. Our recent investments include ICICI Bank, Matrix Laboratories and the Apollo Hospital group in India, Bank Danamon and Bank Internasional Indonesia in Indonesia, Quintiles Transnational Corp in the US, as well as Telekom Malaysia.

For more information, please visit: www.temasekholdings.com.sg