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SPH Magazines increases capital

SINGAPORE, 30 JANUARY 2004 - Singapore Press Holdings Limited (the "Company") is pleased to announce that SPH Magazines Private Limited, a 100%-owned subsidiary of The Straits Times Press (1975) Limited which is wholly-owned by the Company has today increased its issued and paid-up capital from S$250,000 to $10,000,000 by cash injection of S$9,750,000. This cash injection is fully funded by internal resources. The authorised capital has been increased from S$250,000 to S$20,000,000.

SPH Magazines Private Limited’s principal activity is that of publishing and distribution, inter alia, of magazines, periodicals and books.

The capital injection has no material impact on the earnings per share or net tangible assets per share of the Company for the financial year ending 31 August 2004.

None of the directors of the Company has any interest, direct or indirect in SPH Magazines Private Limited. The Company has no substantial shareholder as at the date of this announcement.

Issued by Singapore Press Holdings

For more information, please contact:

Juliana Chong
Assistant Manager
Corporate Relations
Singapore Press Holdings
1000 Toa Payoh North
Singapore 318994
Tel: 65-6319 1895
Fax: 65-6319 8150

About SPH Magazines Pte Ltd
SPH Magazines Pte Ltd (formerly known as Times Periodicals Pte Ltd), a wholly owned subsidiary of Singapore Press Holdings Ltd, is the leading magazine publisher in Singapore with all its titles maintaining No.1 readership in their respective sectors in the Nielsen Media Index 2003.

Her World :
Singapore’s No.1 women’s magazine with 141,000 readership
Home & Decor :
Style leader in home interior sector with 35,000
Young Parents :
The best-read parenting magazine for those with kids
between 0-9 years old. Readership is 16,000
Her World Brides :
A definitive wedding guide published quarterly

SPH Magazines also specialises in custom publishing and produces two of the highest circulating publications in Singapore.

NSMan :
150,000 cps, bi-monthly for SAFRA National Service
ResQ :
120,000 cps, bi-monthly for Civil Defence Association for
National Servicemen
Silver Kris :
75,000 cps monthly English edition and 45,000
cps bi-monthly Japanese edition for Singapore International Airlines

SPH Magazines is the exclusive marketing representative of two leading
Chinese publications:

Citta Bella :
No.1 Chinese women’s magazine in Singapore
You-Weekly :
Weekly entertainment magazine