PRESS RELEASE

SOUTHERN AFRICA INVESTMENTS AND CISCO JOINTLY SET UP NEW SECURITY COMPANY IN SOUTH AFRICA

Southern Africa Investments Pte Ltd (SAIL) and CISCO have jointly invested in setting up a security company in Southern Africa. Together with the largest South African bank ABSA Corporate Bank, the three companies will invest about US$30 million in the new company, SECURECORP Holdings Ltd. This company is formed through the acquisition and integration of several security companies in the country.

2 SECURECORP offers a wide range of security services including the provision of security personnel, cash-in-transit protection services, armed protection services, monitoring, and high-tech security systems. Leveraging on ABSA Corporate Bank's extensive networks and the Singapore consortium's expertise, SECURECORP aims to be the leading fully integrated security company in Southern Africa.

3 CISCO's Chairman, Mr Sim Cheok Lim said, "We seek to bring our 27 years of experience in building up an integrated security business to SECURECORP and to develop it to become a key player in the South African security industry. Besides sharing our core values of professionalism, reliability and integrity, we plan to impart to the company our experience of harnessing technology so as to enhance the effectiveness of the security services that it will be providing."

4 "We are setting up SECURECORP at a time when there is growing demand for quality security services in Southern Africa. With our support and the good track record of our South African partners, we expect the company to have a major presence in South Africa in five years' time. This collaboration demonstrates SAIL's continuing interest and commitment to strengthen investment linkages with Southern Africa", commented Mr Chandra Das, Chairman of SAIL.

About Southern Africa Investments Pte Ltd (SAIL)

5 Southern Africa Investments Pte Ltd (SAIL) is a US$100 million fund set up in September 1997 by Temasek Holdings with private sector participation from DBS Bank, Hotel Properties and Vickers Ballas Holdings. Its primary objective is to serve as a platform for Singapore investments in South Africa. This fund was a follow-on initiative resulting from Prime Minister Goh Chok Tong's trip to Southern Africa in early 1997.

6 To date, SAIL has invested about US $18 million in projects in industries ranging from security technology, manufacturing, energy, IT to supply chain management. It has partnered various Singapore companies in these investments.

7 Mr Chandra Das, Chairman of SAIL, said, "We are making good progress in our investments in Southern Africa. This is a positive reflection of Singapore's ability to tap investment opportunities beyond Asia."

About CISCO

8 CISCO, the Commercial & Industrial Security Corporation, is Singapore's leading security organization. Building on the strength of its traditional armed protection services, CISCO has over the years developed its capability to provide an integrated range of security services through its 17 strategic business units. Its services include cash transportation and storage, alarm monitoring, security management and training, IT security, information management and security consultancy.

9 CISCO's strength lies in its expertise in combining technology, professionalism and experience to meet the most demanding security and loss prevention requirements.

10 This latest investment is in line with CISCO's recent thrust to expand internationally. To date, CISCO has established several joint ventures in security technology and services with partners in Sri Lanka, India, Indonesia, South Africa and Thailand.

Issued on: 11 April 2000

For media enquiries, please contact:

Eva Ho (Ms)
Manager, Corporate Communications
Temasek Holdings (Pte) Ltd
Tel: 6828-6763
Fax: 6828-6263
e-mail: evaho@temasek.com.sg

Grace Wu (Ms)
Manager, Corporate Communications
CISCO
Tel: 6842-8819
Mobile: 97816-280
e-mail: grace_wu@cisco.com.sg