3 OCTOBER 2006 - Singapore Press Holdings Limited ("SPH") wishes to announce that Lianhe Publishing Pte Ltd ("LHP") has transferred its entire stake in the capital of Asia Century Publishing Pte Ltd ("ACP"), to its 100%-owned subsidiary, The Straits Times Press (1975) Limited ("STP"). LHP is a wholly-owned subsidiary of SPH Magazines Pte Ltd which is a 100% owned subsidiary of STP.
The name of ACP has been changed to SPH Buzz Pte Ltd.
The principal activities of SPH Buzz Pte Ltd will be in retail distribution.
The transaction is fully funded by internal resources and has no material impact on the earnings and the net tangible assets per share of SPH in the financial year ending 31 August 2007.
None of the directors of SPH has any interest, direct or indirect in this transaction.
Submitted by Ginney Lim May Ling, Group Company Secretary to SGX on 3 October 2006.