PRESS RELEASE by KEPPEL SINGMARINE Keppel completes two tugs for KST for charter to Brunei Shell Petroleum Singapore, 3 June 2003 - Keppel Singmarine, a member of Keppel Offshore and Marine, has completed on schedule one stern drive utility tug and one tractor tug to Keppel Smit Towage (KST). Jointly designed by Keppel Singmarine, KST and Brunei Shell Petroleum Co. Sdn Bhd, both tugs would be placed on long-term charter to Brunei Shell Petroleum, where they would be deployed for the berthing and unberthing of LNG tankers at the Brunei Liquefied Natural Gas Terminal, Lumut, Brunei. The two tugs represent the 15th and 16th tugs that Keppel Singmarine have constructed for KST. At the naming ceremony held today at Muara, Brunei Darussalam, the tugs were named ‘Pegasus 51’ and ‘Phoenix 52’ by Datin Paduka Hayati, wife of Hj Zainal Abidin, Deputy Managing Director of Brunei Shell Petroleum Co.Sdn. Bhd, and Mrs Bente Skauge, wife of Mr. Reidar Saugstad, Finance Director of Brunei Shell Petroleum Co.Sdn. Bhd, respectively. Said Mr Charles Foo, Chairman of Keppel Singmarine, " The successful completion and delivery of Pegasus 51 and Phoenix 52 marks another significant milestone in our excellent working relationship with Keppel Smit Towage. "Keppel Singmarine is proud to support Keppel Smit's effort in providing quality vessels for charter to oil majors like Brunei Shell Petroleum and its other overseas ventures." Pegasus 51 and Phoenix 52 are classed by the Lloyd’s Register of Shipping Maltese Cross under 100 A1 TUG + LMC (Unrestricted Service). With bollard pull in excess of 65 tons each, the two tugs are by far the most powerful in KST. Pegasus 51 has a gross tonnage of 499 GRT, while Phoenix 52 is 420 GRT. Both tugs are equipped with fire-fighting systems. A third tug, Pisces 53, is currently under construction and would be delivered later this year. Together, these tugs will boost KST’s fleet strength from 25 to 28 tugs. Keppel Singmarine uses leading-edge marine technologies such as TRIBON modelling in the design and development of the vessels. Its naval architects and qualified structural, electrical, piping, marine and offshore engineers have accumulated more than 40 years of experience in the design and building of tugs and offshore vessels, such as the AHTS, ASD Tugs, Platform Supply Vessels, LPG carriers and chemical tankers for a worldwide clientele. With ISO 9001 accreditation, every vessel it builds bears its mark of quality in meeting the varied needs of its customers. For further information, please contact Samantha Tan Senior Executive Group Corporate Communications Tel: 65-6413 6423 Email: samantha.tan@kepcorp.com   (pix of tugs) Caption: Built by Keppel Singmarine, Pegasus 51 and Phoenix 52 were named at a ceremony held in Muara, Brunei Darussalam today.