ST Engineering Completes Acquisition Of Specialized Vehicles Corporation

(Singapore - 4 October 2005) -- Singapore Technologies Engineering (ST Engineering) today announced, as a follow up to an earlier announcement on 1 August 2005, that its US company, Vision Technologies Land Systems, Inc (VTLS), has successfully completed the acquisition of 100% of Specialized Vehicles Corporation. The completion follows the receipt of regulatory approvals and fulfillment of other closing conditions.

It will be renamed VT Specialized Vehicles Corporation, Incorporated and will be a wholly-owned subsidiary of VTLS, which in turn, is a wholly-owned subsidiary of Vision Technologies Systems, Inc (VTS). VTS is a wholly-owned subsidiary of ST Engineering.


Specialized Vehicles Corporation is the leading manufacturer in North America for specialised truck bodies and trailers that services the multi-stop food and beverage service distributors and municipal emergency rescue departments. Its two divisions, Hackney and Kidron, specialise in beverage truck bodies and trailers, emergency rescue bodies and trailers, special application truck bodies and multi-temperature refrigerated truck bodies and trailers. It counts among its US customers major fleet and truck leasing operators, foodservice, beer, soft drink distributors and municipal authorities.

Vision Technologies Systems Inc. and its subsidiaries are preferred providers of engineering solutions, products, integrated systems, and services in the Americas across the core business areas of marine, aerospace, electronics and land systems. Headquartered in Alexandria, Virginia, Vision Technologies Systems operates throughout North America and offers a broad range of proven innovative services to both the commercial and government sectors. VTS is a wholly owned subsidiary of Singapore Technologies Engineering Ltd. Please visit www.vt-systems.com.

ST Engineering 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 S$2.95 billion in FY2004. Its market capitalisation of more than S$7 billion ranks it among the largest companies listed on the Singapore Exchange. ST Engineering has 12,000 employees worldwide, and over 100 subsidiaries and associated companies in 15 countries and 22 cities. Please visit www.stengg.com.


Contact:
Lim Beng See
Vice President/Head Corporate Communications
Singapore Technologies Engineering Ltd
Tel: (65) 6722 1883
Fax: (65) 6720 2293
Email: limbs@stengg.com

Natalie Mah
Assistant Vice President/Head Corporate Communications
Singapore Technologies Kinetics Ltd
Tel: (65) 6660 7448
Fax: (65) 6265 8862
Email: mahnatalie@stengg.com

Source : Singapore Technologies Engineering (ST Engineering)