MEDIA RELEASE

SENTOSA COVE AWARDS MARINA TENDER TO SUTL GROUP
Set sail for Singapore's First World-Class,
Purpose- Built Mega-yacht Facility

Singapore, 29 September 2004 – Sentosa Cove's much-hyped and long-awaited public tender for its Marina has been awarded to the SUTL Group (‘SUTL').

Lauded as Singapore 's most favourably located marina with its proximity to the city, it is unique for being the first marina to be fully integrated with a residential community. It is also the first and only sheltered marina with the ability to berth some 204 boats including luxurious mega-yachts of up to 80 metres in length. Designed to be Singapore 's first world class, purpose built mega-yacht facility, The Marina – Sentosa is poised to inject the glamour of a Riviera lifestyle upon the targeted completion of its clubhouse by end 2007.

An integral component of the luxurious oceanfront Sentosa Cove residential development, The Marina – Sentosa will be open to boating enthusiasts and discerning individuals who enjoy nautical pursuits as well as top-of-the-range clubhouse facilities. Boaters can look forward to the first 100 pontoon berths, including 10 for mega-yachts, targeted for end 2005.

The Marina – Sentosa is a significant ‘home coming' of sorts for SUTL. This company with roots in ship chandling will now be playing a key role in the maritime leisure industry. “Our focus is to develop a marina that will complement the multi-million dollar homes at Sentosa Cove. More importantly, the marina will help position Singapore prominently as a world-class international yachting hub and become a marina that Singaporeans can be proud of,” said Mr Arthur Tay, Chairman/Managing Director, SUTL.

“I am confident that The Marina – Sentosa Cove will be Singapore 's benchmark of a successful, thriving regional boating hub, buzzing with life and activities. I am extremely pleased, and excited to have them as partners,” Ms Jennie Chua, Chairman of Sentosa Cove said.

“It is indeed heartening to find a business partner who shares a similar passion, mindset and most importantly, an appreciation of exquisite quality,” Ms Chua added.

“We look forward to working with SUTL in the years to ahead in realizing the mutual vision of building a world-class marina on Sentosa Cove for Singapore and the region,” Ms Chua said.

Catering to the varied needs of the yachting community, the pontoon berths will be designed to accommodate boats of different sizes and designs. Dry stack storage will also be available to members.

With a ‘Hop-On and Cruise' concept to support visiting mega and super yachts, it is envisaged that The Marina – Sentosa will also become a major ‘white' servicing centre for engines, marine electronics, navigation aids and medical facilities.

With its unique location, The Marina – Sentosa will be both a ‘gateway' and ‘get-away' venue for locals and tourists. As a ‘gateway', it will cater to the nearby Southern Islands like Pulau Seringat, Pulau Hantu and Sisters' Islands for recreational sea sports and it will be a ‘get-away' from which cruises to the Riau Archipelago, Malaysian islands and further destinations like Phuket and Krabi can be organised.

Both Sentosa Cove and SUTL are confident that The Marina – Sentosa will be uniquely Singapore with a string of ‘firsts':

• First mega/super yacht centre to be equipped with full facilities

• First marina in Singapore to be ISO 14001 (maritime safety and environment standard) compliant

• First marina to be equipped with International Ship and Port Security (ISPS) system terminal to monitor mega/super yachts cruising in the region.

Architectural renderings of The Marina – Sentosa will be released in conjunction with the marketing launch, scheduled for the first half of 2005.