For Release on April 17, 2003

REPORTS OF SUSPECTED SEVERE ACUTE RESPIRATORY SYNDROME (SARS) CASES IN JURONG SHIPYARD PTE LTD

The Ministry of Health has informed Jurong Shipyard Pte Ltd on the afternoon of April 15, 2003 that one subcontract worker who had worked in the shipyard passed away from suspected SARS on April 13, 2003 at the Tan Tock Seng Hospital. Our records show that this subcontract worker had stopped working in our shipyard since April 8, 2003. Eight of his colleagues have since April 16, 2003 been quarantined by the Ministry of Health.

A second subcontract worker who is understood to be hospitalised in Malaysia, last worked in the shipyard on March 25, 2003. To-date, there is no confirmation on his condition. The Company has since identified all the subcontract workers who have worked with him and placed them under close monitoring.

Prior to this case, and as part of the Company’s SARS Management System, one worker was quarantined on April 12, 2003 when detected with a fever. He was subsequently diagnosed as suffering from malaria. Another worker was also quarantined on April 12, 2003 following detection through the yard’s screening. He is now suspected to have typhoid fever. In both cases, as a precaution at the time of detection, the Company has asked a total of 61 others to rest at home and be continuously monitored.

This Company has taken the following actions to protect its customers, employees, subcontractors and visitors:

i)	Employees and subcontractors are checked daily on their body temperatures since April 9, 2003. Any person with temperature above 37.5°C is referred to the Shipyard’s Medical Centre for further observation and action

ii)	All visitors to the yard are required to make a health declaration and will be screened at the gate prior to entry

iii)	Prior to a ship’s arrival to the shipyard, all requirements under the MPA declaration and screening must be complied with

iv)	The Shipyard is disinfecting daily all common areas where customers, employees, and subcontractors meet including offices, meeting rooms and canteens

iv)	Jurong Shipyard is working closely with the Ministry of Health (MOM) on this matter

Mr Tan Kwi Kin, Chairman of Jurong Shipyard Pte Ltd said “We would like to assure all our customers, employees and subcontractors that we will continue with the stringent measures that are already in place to ensure the well-being of everyone in the shipyard.” He further added “We do not foresee any disruption to the business in the shipyard.”

For further information or clarification, please contact:

Ms Judy Han Vice President Investor Relations & Communications Tel : 65 6262 7203 Fax : 65 6261 0738 E-mail : judy@jspl.com.sg

Wong Peng Kin Senior Vice President Human Resource Tel: 65 6262 7212 Fax: 65 6261 0738 Email: pkwong@jspl.com.sg