Singapore, 20 September 2011 – Singapore Technologies Engineering Ltd (ST Engineering) today announced that Vision Technologies Aerospace Incorporated (VT Aerospace) has entered into an agreement to acquire 100% of the shares of DRB Aviation Consultants, Inc. (DRB Aviation) for a purchase consideration of US$1.45m (approximately S$1.75m), effective consideration will be net of debt. DRB Aviation will be a wholly owned subsidiary of VT Aerospace. VT Aerospace holds the aerospace companies of Vision Technologies Systems, Inc. (VT Systems), the US headquarters of ST Engineering.

The purchase consideration was arrived at on a willing buyer willing seller basis, after negotiations between the parties, taking into account DRB Aviation’s past performance, current profitability and future prospects.

The acquisition 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.

The acquisition is part of ST Engineering’s strategic intent to develop the Group’s cabin interior engineering capability. DRB Aviation has a strong track record in aircraft interiors engineering. It is a meaningful addition to the sector’s engineering and development capabilities, supporting aircraft completion centres, airline operators and aircraft maintenance, repair and overhaul (MRO) providers in their aircraft modification activities.

In addition, DRB Aviation is an organisational designee under the FAA’s Organisation Designation Authorisation (ODA) programme that allows autonomy and efficiency in the issuance of minor Supplementary Type Certificates (STCs) for avionics and interiors projects. This adds to the certification capability of ST Engineering’s Aerospace sector, which currently holds a European Aviation Safety Agency Design Organisation Approval authorisation. The founder and president of DRB Aviation, Don Bell, will continue with the company to drive the business towards continued growth.

Established in 1997, DRB Aviation provides services such as engineering design, flame testing, kitting, and static and pull testing. It has an excellent track record in engineering and certification for VIP and corporate aircraft completion, and has undertaken numerous VIP and corporate aircraft interior engineering and certification projects.

VT Aerospace owns MRO operating companies in Mobile, Alabama, and San Antonio, Texas, specialising in aircraft heavy maintenance and modification. It is one of the largest private employer in Mobile, and the largest private independent MRO employer in San Antonio.

ST Aerospace (Singapore Technologies Aerospace Ltd) is the aerospace arm of ST Engineering. Operating a global MRO network with facilities in the Americas, Asia Pacific and Europe, it is the world’s largest aircraft MRO provider with a global customer base that includes leading airlines, airfreight and military operators. ST Aerospace is an integrated service provider that offers a spectrum of maintenance and engineering services that include airframe, engine and component maintenance, repair and overhaul; engineering design and technical services; and aviation materials and management services, including Total Aviation Support. ST Aerospace has a global staff strength of more than 8,000 engineers and technical specialists. Please visit www.staero.aero.

ST Engineering (Singapore Technologies Engineering Ltd) is an integrated engineering group providing solutions and services in the aerospace, electronics, land systems and marine sectors. Headquartered in Singapore, the Group reported revenues of $5.98b in FY2010 and ranks among the largest companies listed on the Singapore Exchange. It is a component stock of the FTSE Straits Times Index, FTSE ASEAN 40 Index, MSCI Singapore and other indices. ST Engineering has more than 22,000 employees worldwide, and over 100 subsidiaries and associated companies in 24 countries and 45 cities. Please visit www.stengg.com.

VT Systems is an engineering company providing integrated solutions to the commercial and government markets in the aerospace, electronics, land systems and marine sectors. VT Systems’ innovative solutions, products and services include aircraft maintenance, repair and modification; software solutions in training and simulation; satellite-based IP communications technology; network solutions that integrate data, voice and video; rugged computers and computer peripheral equipment; specialised truck bodies and trailers; weapons and munitions systems; road construction equipment; and ship design and shipbuilding. Headquartered in Alexandria, Va., VT Systems operates globally and is a wholly owned subsidiary of ST Engineering.www.vt-systems.com.