ST Engineering's Land Systems Arm Secures S$42.5M 40mm Ammunition Export Contract

(Singapore, February 20, 2008) -- Singapore Technologies Engineering Ltd (ST Engineering) today announced that its land systems arm, Singapore Technologies Kinetics Ltd (ST Kinetics), has been awarded a contract worth about S$42.5m by the UK Ministry of Defence (UK MOD) for the supply of 40mm ammunition. The contract was signed with Advanced Material Engineering Pte. Ltd. (AME), a subsidiary of ST Kinetics. Delivery will begin this year and complete in 2009.

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.

ST Kinetics is the world's leading provider of 40mm solutions, empowering the user with a wide range of end-effects, including high and low velocity rounds, less-than-lethal rounds, insensitive and self-destruct munitions. ST Kinetics is also recognised as one of the first in the world to demonstrate a ready and working 40mm air bursting munitions system.

ST Kinetics, through AME, has been supplying 40mm ammunition to the UK MOD since 2002.

"We are proud to have won this contract from the UK MOD. It is a tremendous endorsement of our 40mm solutions and demonstrates our quality and capabilities to have won against some of the best in the world internationally." said SEW Chee Jhuen, President, ST Kinetics

Source : ST Engineering Ltd.

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