PRESS RELEASE

SENIOR DBS BANKER MR TAN SOO NAN TO JOIN TEMASEK HOLDINGS

Temasek Holdings is pleased to announce the appointment of Mr Tan Soo Nan, Senior Managing Director of DBS Bank, as Chief Executive Officer of its wholly-owned subsidiary, Fullerton Holdings Pte Ltd. This appointment takes effect from 1 June 2000.

2 Fullerton Holdings Pte Ltd is Temasek Holdings' investment arm responsible for direct investments.

3 Mr Tan's vast experience in finance and investment at DBS Bank will contribute significantly to Fullerton's investment strategies. Besides his many duties at DBS Bank, Mr Tan is Chairman and Director of several DBS subsidiaries including DBS Asset Management and DBS Asia Capital Ltd. He is also a Board member of DBS Kwong On Bank in Hong Kong, DBS Thai Danu Bank in Thailand, DBS Philippines and PT Bank DBS (Indonesia).

Issued on: 11 May 2000

For media enquiries, please contact:Peter Ong
Executive Vice President
Temasek Holdings (Pte) Ltd
Tel: 320-0737
Fax: 225-6909