SINGAPORE, 13 August 2009 — The Bank of New York Mellon, a global leader in asset management and securities servicing, has been appointed to serve as fiscal and paying agent on ST Engineering Financial I Ltd's (STEF-1) new US$1.2 billion Multicurrency Medium Term Note Programme (MTN Programme) established on 6 July 2009.

The new MTN Programme was established as part of Singapore Technologies Engineering Ltd's financing strategy to diversify its funding sources. It allows for the issue of medium term notes in any currency.

As fiscal and paying agent, The Bank of New York Mellon will make interest and principal payments to investors on behalf of ST Engineering and handle other administrative duties related to the issuance of the notes.

"Over the last quarter, several companies have started to take a fresh look at their financing strategies, diversifying their funding options so that they have the agility to quickly raise funds to pursue opportunities," said Gary Lew, head of Asia Pacific, Corporate Trust at The Bank of New York Mellon. "As the leading corporate trust provider in Asia Pacific, this renewed positive sentiment and increase in funding activity presents strong opportunities for our company."

The Bank of New York Mellon's corporate trust business services nearly $12 trillion in outstanding debt from 57 locations in 19 countries. Its clients include governments and their agencies, multinational corporations, financial institutions and other entities that access the global debt capital markets. The corporate trust business utilizes its global footprint and expertise to deliver a full range of issuer and related investor services and develop customized and market-driven solutions. Its range of core services includes debt trustee, paying agency, escrow and other fiduciary offerings.

Corporate trust providers are appointed by debt issuers as well as fund and collateral management institutions to perform a variety of services related to debt and collateral administration, safekeeping, direct cash and investment management, portfolio and transparency analytics, reporting, and final asset disposition and distribution activities.

The Bank of New York Mellon Corporation is a global financial services company focused on helping clients manage and service their financial assets, operating in 34 countries and serving more than 100 markets. The company is a leading provider of financial services for institutions, corporations and high-net-worth individuals, providing superior asset management and wealth management, asset servicing, issuer services, clearing services and treasury services through a worldwide client-focused team. It has $20.7 trillion in assets under custody and administration, $926 billion in assets under management, services more than $11.8 trillion in outstanding debt, and processes global payments averaging $1.8 trillion per day. Additional information is available at bnymellon.com.