Singapore

Temasek Holdings (“Temasek”) is pleased to announce that Mr Simon Claude Israel, Chairman, Asia Pacific, Danone Asia Pte Ltd and Mr Goh Yew Lin, Executive Director, GK Goh Holdings Ltd, have been appointed on the Board of Temasek with effect from 1 Aug 05.

Mr Ng Kok Song, Managing Director of GIC (Government of Singapore Investment Corporation), and a Board Director of Temasek since Jul 2003, has stepped down from the Board on 1 Jul 2005.

Mr Israel, 52, is a member of the Executive Committee of Group Danone. He successfully established a strong presence in the China and the South East Asian markets for the Danone Group. As President of Sara Lee Corporation before he joined Danone in 1996, he had been instrumental in anchoring Sara Lee's operations in the region. Mr Israel currently also chairs the Singapore Tourism Board and sits on the Business Advisory Board of the Lee Kong Chian Business School at Singapore Management University. He is also a member on the Board of SingTel, a Temasek subsidiary. A New Zealander, Mr Israel is also a Singapore Permanent Resident.

Mr Goh, 45, has more than 20 years experience in the stock broking industry. He brings with him an international perspective, particularly of Asia and the financial markets. He was instrumental in building GK Goh into a leading Asian stock broking group, focusing in particular on institutional broking and research. Mr Goh is also active at a number of public institutions, serving as Chairman of the Yong Siew Toh Conservatory of Music and Deputy Chairman of the Singapore Symphony Orchestra. He is also a member of the Action Community for Entrepreneurship, the Appeal Advisory Panel of the Monetary Authority of Singapore and the Nanyang Academy of Fine Arts.

Mr S Dhanabalan, Chairman, Temasek, said, “We welcome Simon and Yew Lin to the Temasek Board. This is part of our board rejuvenation aimed at continually injecting fresh ideas and perspectives. Both of them will bring with them their regional and international experience to the board. Simon is our first non-Singaporean director on the Temasek Board. He has a wealth of marketing and investment experience in the Asia Pacific region, as well as a practitioner’s knowledge of various consumer trends in Asia. Yew Lin, on the other hand, is a well-regarded veteran in the stock broking industry. He is widely known for his practical business sense and insightful views of the macro market conditions in Asia and beyond. Their experience and expertise will help Temasek as we seek to transform our investment portfolio into an Asia-focused one, with the objective of maximizing shareholder value.”

“I would also like to thank Kok Song for his sterling service and commitment to the board during his tenure. Kok Song is retiring from the Temasek Board at the end of his current term. His knowledge and expertise in the fund management industry has been most invaluable in helping Temasek strengthen our fund management activities.”

With the addition of the two new directors and the stepping down of Mr Ng Kok Song , the Board of Temasek now has 10 members. They are:

1. Mr S Dhanabalan, Chairman
2. Mr Kwa Chong Seng, Deputy Chairman
3. Mr Lim Siong Guan, Deputy Chairman
4. Mr Sim Kee Boon
5. Mr Fock Siew Wah
6. Mr Koh Boon Hwee
7. Mr Kua Hong Pak
8. Mr Simon Israel
9. Mr Goh Yew Lin
10. Ms Ho Ching, CEO

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For media enquiries, please contact:

Eva Ho
Director, Corporate Communications
Temasek Holdings (Private) Limited
DID: (65) 68286763
Mobile: (65) 96176234
Email: evaho@temasek.com.sg