PRESS RELEASE

POSTPONEMENT OF IPO OF PSA CORPORATION

Temasek Holdings wishes to announce that it will not make a public offer of shares in PSA Corporation in the immediate future but will review the possibility when the market is more conducive.

Issued on: 8 May 2002

For media enquiries, please contact:
Eva Ho (Ms)
Vice President, Corporate Communications
Temasek Holdings (Pte) Ltd
DID: (65) 6828-6763
FAX: (65) 6828-6263
Mobile: (65) 9617-6234
Email: evaho@temasek.com.sg