29 Dec 2007

MASNET: Incorporation Of A Joint-Venture Company

KEPPEL CORPORATION LIMITED

Keppel Corporation Limited (the “Company”) wishes to announce that Keppel FELS Limited, (its wholly-owned subsidiary through Keppel Offshore & Marine Ltd) has together with Jurong Shipyard Pte Ltd, incorporated Marine Housing Services Pte Ltd (“MHS”), a Singapore company, to provide dormitory housing services for workers in the marine industry.

The share capital of MHS is S$2 comprising 2 ordinary shares to be held on a 50-50 basis by Jurong Shipyard Pte Ltd and Keppel FELS Limited.

None of the directors or controlling shareholders has any interest, direct or indirect in the above transaction.

The transaction is not expected to have any significant impact on the consolidated earnings per share and net tangible assets per share of the Company for the current financial year.