Temasek Holdings (Private) Limited ("Temasek") and Standard Chartered Private Equity ("SCPE"), the private equity arm of Standard Chartered Bank, have established the Merlion India Fund, a USD100 million India-focused private equity fund. Temasek and SCPE have equal ownership of the Fund and will manage the Fund jointly.

The Merlion India Fund will provide growth capital for Indian companies that aim to expand their business within India and beyond. The Fund will also invest in regional companies seeking to participate in opportunities in India to build their business. The Fund will focus on mid to late stage companies in most growth sectors with the exception of infrastructure, real estate and trading.

The establishment of the Merlion India Fund underscores Temasek's and Standard Chartered Bank's belief in the strength and potential of the Indian economy as reflected by its strong macro-economic fundamentals, the purchasing power of its large and educated middle-class, and the growth of its skills-intensive and high value-added sectors. The India-Singapore Comprehensive Economic Cooperation Agreement (CECA) is also expected to create greater economic opportunities for companies in both economies and the region.

The Merlion India Fund is managed out of Singapore. The directors of the Fund are S. Iswaran, Managing Director, Strategic Development of Temasek Holdings; and Karam Butalia, Global Head of SCPE.

Commenting on Temasek's perspective, Mr Iswaran said: "Temasek is optimistic of the long term growth prospects of Asia. We are pleased to work with Standard Chartered Bank to invest in opportunities in India, one of the largest and fastest growing economies within Asia."

Mr Karam Butalia said, "India is a key growth market for Standard Chartered Bank and we expect to see some exciting investment opportunities. We are pleased to be in partnership with Temasek. This joint venture will assist investee companies using the network, capabilities and expertise of both parties."

Temasek Holdings

Temasek Holdings (Private) Limited is an investment holding company based in Singapore. Established in 1974, it holds and manages investments in companies which are involved in a wide range of business activities, from port, shipping and logistics, to banking and financial services, airlines, telecoms and media, power and utilities, and rail. Many of these companies are leading companies in Singapore, including Singapore Airlines, Singapore Telecoms, Singapore Technologies, Neptune Orient Lines-APL, PSA Corporation, DBS Bank and Singapore Power. The listed companies in the Temasek Group represent approximately 20% of the market capitalisation of the Singapore Exchange. For more information, please visit http://www.temasekholdings.com.sg/

About Standard Chartered Private Equity

Standard Chartered Private Equity (SCPE) is the private equity arm of Standard Chartered Bank. The team, based in Singapore and Hong Kong, manages a diversified portfolio of investments in the Asia Pacific.

About Standard Chartered - leading the way in Asia, Africa and the Middle East

Standard Chartered employs 30,000 people in over 500 locations in more than 50 countries in the Asia Pacific Region, South Asia, the Middle East, Africa, the United Kingdom and the Americas. It is one of the world's most international banks, with a management team comprising 70 nationalities.

Standard Chartered is listed on both the London Stock Exchange and the Stock Exchange of Hong Kong and is in the top 25 FTSE-100 companies, by market capitalisation.

It serves both Consumer and Wholesale Banking customers. Consumer Banking provides credit cards, personal loans, mortgages, deposit taking and wealth management services to individuals and small to medium sized enterprises. Wholesale Banking provides corporate and institutional clients with services in trade finance, cash management, lending, custody, foreign exchange, debt capital markets and corporate finance.

Standard Chartered is well-established in growth markets and aims to be the right partner for its customers. The Bank combines deep local knowledge with global capability.

The Bank is trusted across its network for its standard of governance and its commitment to making a difference in the communities in which it operates.

For further information, please contact:

Jessica Lee
Corporate Affairs
Standard Chartered Bank
Tel: +65-6530 3468 (office)
      +65-9769-8261 (mobile)
Email : jessica.lee@sg.standardchartered.com

Eva Ho
Corporate Communications
Temasek Holdings (Pte) Ltd
Tel: +65-6826 6763
      +65-9617-6234
Email : evaho@temasek.com.sg