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Keppel Corp. appoints Tow Heng Tan as Director

Maritime Activity Reports, Inc.

September 16, 2004

Keppel Corporation Limited (Keppel Corporation) announced the appointment of Mr Tow Heng Tan, Managing Director of Strategic Development (ASEAN Investments) of Temasek Holdings (Private) Limited(Temasek Holdings), as Director.

He will also serve as a member of the Executive Committee and Remuneration and Share Option Committee.

Mr Tow, aged 48, has an extensive 29-year business career spanning the management consultancy, investment banking and stockbroking industries. At Temasek Holdings, he is involved with making direct investments in the ASEAN region.

Prior to joining Temasek Holdings in September 2002, he was Senior Director of Business Development at DBS Vickers Securities (Singapore) Pte Ltd. From 1993 to 2001, Mr Tow was Managing Director of Lum Chang Securities Pte Ltd.

“Mr Tow's wealth of management experience will be of immense benefit to the Board as the Group continues with its drive to expand overseas and deliver shareholder value,” said Mr Lim Chee Onn, Executive Chairman of Keppel Corporation.

Mr Tow also sits on the Boards of IE Singapore, Shangri-la Asia Limited and ComfortDelGro Corporation Limited, among others.

He is a Fellow of the Association of Chartered Certified Accountants as well as the Chartered Institute of Management Accountants.

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