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Business Day ceases to be an Associate

15 July 2005

Singapore Press Holdings Limited ("SPH") wishes to announce that the percentage of its shareholding in a Thai associate, Business Day Co Ltd ("Business Day"), has decreased from 24.97% to 12.49%, through a dilution in shareholding percentage as a result of a capital increase by Business Day. SPH’s shareholding of 249,733 remains the same.

Business Day has therefore ceased to be an associate of SPH.

The change has no material impact on the earnings and net tangible asset per share of SPH for the current financial year ending 31 August 2005.

None of the Directors of SPH has any interest, direct or indirect, in this matter.