Singapore

Temasek Holdings (Private) Limited ("Temasek") has stopped the tender process for the sale of its wholly-owned Singapore power generation company PowerSeraya Ltd ("PowerSeraya").

Ms Gwendel Tung, Director, Investment, Temasek Holdings said, "We launched the tender process early last month based on indications of interest from investors. In light of the market conditions, we have decided not to proceed further. We thank all participants for their support."

Temasek remains committed to divest all its power generating companies in Singapore.

Ms Tung added, "We are flexible as to how and when we will revisit the divestment of PowerSeraya."

In the meantime, PowerSeraya will continue to operate as usual under the supervision of its board of directors and management.

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About Temasek Holdings

Incorporated in 1974, Temasek Holdings is an Asia-centric investment firm headquartered in Singapore. Supported by affiliates and offices around the world, it owns a diversified S$185 billion (US$134 billion) portfolio of blue-chip companies and investments as at 31 March 2008, concentrated principally in Singapore, Asia and the OECD economies.

Temasek's investment strategies centre on four themes - Transforming Economies, Growing Middle Class, Deepening Comparative Advantages and Emerging Champions. Its portfolio of companies covers nine major sectors: financial services; telecommunications and media; transportation and logistics; real estate; infrastructure, industrial and engineering; energy and resources; technology; life sciences; and consumer and lifestyle.

Total shareholder return for Temasek since its inception in 1974 has been more than 18% compounded annually in Singapore dollars. It has a corporate credit rating of AAA/Aaa by rating agencies Standard & Poor's and Moody's respectively since 2005. For further information on Temasek, please visit www.temasek.com.sg

For more information, please contact:

Lim Siow Joo
Associate Director, Corporate Affairs
Tel: (65) 6828 6503
E-mail: siowjoo@temasek.com.sg

Ivan Tan
Weber Shandwick (for Temasek)
Tel: (65) 9635 9765
E-mail: itan@webershandwick.com