Singapore, 4 October 2013: ST Aerospace today announced that its wholly
owned subsidiary ST Aerospace Engines Pte Ltd (STA Engines), has agreed to
inject its pro rata share of an additional US$2.81m (S$3.58m) into the
capital of its 50%-jointly controlled company, Total Engines Asset
Management Pte Ltd (TEAM).

This capitalisation exercise is performed in two stages with the first
phase amounting to US$1.40m (S$1.78m) injected immediately and the second
injection of US$1.41m (S$1.80m) on 16 October 2013. This exercise will
bring STA Engines’ total share capital contribution in TEAM to US$11.02m (S
$14.05m). The additional funding will support the expansion of the engine
leasing business to include the International Aero Engines (IAE) V2500
engine into its portfolio.

TEAM is a joint venture between ST Aerospace and Marubeni Corporation.
Established in 2011 in Singapore, TEAM provides engine leasing services for
CFM56-3, CFM56-5B, CFM56-7B engines that power narrow-body aircraft such as
the Airbus A320 and Boeing 737. A new addition, the IAE V2500 is a
turbofan engine which powers the Airbus A320 family (A320, A321, A319 and
the Airbus Corporate Jet).

The capital injection is not expected to have any material impact on the
consolidated net tangible assets per share and earnings per share of ST
Engineering for the current financial year.