Further to the announcement made on 29 September 2006, the Board of Directors of Singapore Press Holdings Limited ("SPH") wishes to announce that the conditions of the Share Purchase Agreements executed on 29 September 2006 between the Company´s wholly owned subsidiary, SPH Magazines Private Limited (“SPH Magazines”), and GreenDot Internet Services Pte Ltd, Savoury Associates Ltd, SiS Netreprenuer Ventures Corp and its founding members among them, Jackie Lee Choon Yau, Eugene Low Wei An, Wong Jong Siang, Ang Chi Hoe, Tang Shiau Khee, Poh Swee Hong, have been satisfied and successfully completed.
SPH Magazines now owns 100% of the shares in the entire share capital of Hardware Zone Pte Ltd.
None of the directors of SPH has any interest, direct or indirect, in this transaction.
Issued by Singapore Press Holdings Limited
27 October 2006