Keppel Corporation Limited (“Keppel” or the “Company”) wishes to announce that Singapore-Sichuan Investment Holdings Pte Ltd (“SSIH”), in which the Company has, through its subsidiary Keppel Hi-Tech Innovation Park Holdings Pte. Ltd. (“Keppel Hi-Tech”), an effective interest of 8.37%, has today signed an Investment Cooperation Agreement with Chengdu Hi- Tech Investment Group Co., Ltd. (“CHTIG”) and the Chengdu government (represented by the Chengdu High-tech Industrial Development Administrative Committee) in relation to the proposed development of a 1000-hectare innovation park in the Chengdu Hi-Tech Zone’s South Park within the Chengdu-Chongqing Economic Zone. The Investment Cooperation Agreement will take effect upon the signing of a joint venture agreement between SSIH and CHTIG.

Keppel Hi-Tech holds 10% shareholding interest in SSIH, a Singapore joint venture (“Joint Venture”) that includes Sembcorp Industrial Parks Ltd, a wholly-owned subsidiary of Temasek Holdings (Private) Limited (“Temasek”) and Ascendas (China) Pte Ltd. SSIH and CHTIG will in turn own 50:50 share in a Chinese incorporated company to co-develop the innovation park. The registered capital of the project company is approximately US$297 million. The shareholders of Keppel Hi-Tech comprise the Company, Keppel Land China Limited and Keppel Integrated Engineering Limited with 45%, 35% and 20% shareholding interests respectively.

The Joint Venture is an “interested person transaction” for the purposes of Chapter 9 of the Listing Manual as SembCorp is an associate of Temasek and Temasek is a controlling shareholder of SembCorp and Keppel. However, the aggregate value of all transactions (including the abovementioned transactions) entered into with each of Temasek and Sembcorp in FY2011 does not equal to, nor exceed, 3% of Keppel Group’s latest audited net tangible assets.

Mr Tow Heng Tan, a director of the Company, is the Chief Investment Officer of Temasek. Mr Lim Hock San, a director of the Company, is a director and the Chairman of the board of directors of Ascendas Pte Ltd.

Save as disclosed hereunder, none of the directors or controlling shareholders of the Company has any interest, direct or indirect, in the abovementioned transactions.

The abovementioned transactions are not expected to have any material impact on the earnings per share and net tangible assets per share of the Company for the current financial year.

BY ORDER OF THE BOARD