Martinair Extends Relationship With ST Engineering's Aerospace Arm With A $37 M Contract

(Singapore, May 11, 2007) -- Singapore Technologies Engineering Ltd (ST Engineering) today announced that SAS Component A/S, the subsidiary of Singapore Technologies Aerospace Ltd (ST Aerospace), has been selected by Martinair to continue its support of Martinair's fleet of six B767 aircraft under its material supply programme. The newly extended contract, worth EUR18m (about $37m), covers components management and maintenance support over three years. ST Aerospace is the aerospace arm of ST Engineering.

This contract is not expected to have any material impact on the consolidated net tangible assets per share and earnings per share of ST Engineering for the current financial year.

"Having worked with SAS Component for 18 years, we feel completely confident in extending our relationship even further. We are pleased with the efficiency and flexibility that their material supply programme offers, and we continue to look forward to our partnership for more years to come." said Harry Voogel, Director Contracts, Martinair

"Today's contract signals the growing development of SAS Component as a third party provider. Martinair has been a long time customer of SAS Component. This latest contract is testament to our long and mutually rewarding relationship and the fact that Martinair is very satisfied with the support provided by SAS Component. We are pleased that Martinair has continued to put their trust in us. SAS Component remains dedicated to giving the best possible customer experience for Martinair and all our customers." said Nicolai Hertz, Vice President, Sales & Marketing, SAS Component

Source : ST Engineering Ltd.

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