SINGAPORE -  Simon Israel (伊盛盟), Executive Director & President of Temasek, will retire from his executive and board roles in Temasek effective 1 July 2011.

A member of the Temasek Board since August 2005, Simon became an executive director and a key member of the Temasek senior leadership in July 2006, and assumed the role of President last year.

Both the Board and management deeply appreciate Simon's significant contributions to the evolution of Temasek as an international investor.

Said Mr Dhanabalan, Chairman of Temasek, "Simon has provided leadership to build and enhance the value of Temasek’s Singapore and international investments. He brought with him a wealth of experience and an incisive mind which added richness to our board deliberations. My Board and I are deeply grateful for his contributions and wish him well in his future endeavours."

Mr Israel said, "It has been a privilege to work with the Board and my colleagues at Temasek, and to play a part in its evolution as a global investor. Today, Temasek has in place a diverse team of talented people. I am confident they will continue to build on Temasek's reputation and strengths to create sustainable long term value for our various stakeholders.

As I have shared with Ho Ching periodically, it has been my wish for some time to retire from a full-time executive role. Now that we have a good team of very capable and committed people in place in Temasek, I feel it is as good a time as any for me to move on to a non-executive role."

Ms Ho Ching, Executive Director and CEO, added, "Simon has contributed significantly to the deepening of Temasek's capability and discipline as an active investor, both as an active and thoughtful board member and as a key member of the Temasek management leadership. He has played an invaluable role in the evolution and reshaping of Temasek as an active international investor and value-adding shareholder.

While we will miss Simon's direct and very active participation at Temasek, we are all very pleased that we will be able to continue to engage and spar with him albeit in a different role as he continues to serve in his own individual capacity on the boards of some of the key Temasek-linked companies."

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About Temasek Holdings

Incorporated in 1974, Temasek Holdings is an Asia investment company headquartered in Singapore.

Supported by 12 affiliates and offices in Asia and Latin America, Temasek owns a diversified S$186 billion (US$133 billion) portfolio as at 31 March 2010, concentrated principally in Singapore, Asia and the emerging economies.

Temasek's investment themes centre on Transforming Economies, Growing Middle Income Populations, Deepening Comparative Advantages and Emerging Champions.

Its portfolio covers a broad spectrum of industries: financial services; telecommunications, media & technology; transportation & industrials; life sciences, consumer & real estate; energy & resources.

Total shareholder return for Temasek since its inception in 1974 has been a healthy 17% compounded annually. It has a corporate credit rating of AAA/Aaa by rating agencies Standard & Poor's and Moody's respectively.

For further information on Temasek, please visit www.temasek.com.sg.

For media enquiries, please contact:

Tan Yong Meng
Director, Corporate Affairs
Temasek Holdings (Private) Limited
DID: (65) 6828-6651
Email: yongmeng@temasek.com.sg