Singapore Airlines to proceed with Capital Reduction

Singapore Airlines has received approval from the High Court of Singapore to proceed with the Capital Reduction (by way of the cancellation of one share for every 15 shares held, at Sin$18.46 per share cancelled), as originally announced on 11 May 2007.

The Capital Reduction will become effective when a copy of the Order of Court confirming the Capital Reduction has been lodged with the Registrar of Companies and Businesses of Singapore together with the other documents prescribed under the Companies Act, Chapter 50 of Singapore.

The company intends to carry out the lodgement on 7 September 2007.

The Transfer Books and Register of Members of the Company will be closed at 5.00pm on 7 September 2007 in order to determine the entitlements of shareholders to the Cash Distribution, the number of shares to be cancelled pursuant to the Capital Reduction and the relevant shareholders to whom a Top-Up Offer will be made.

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