Press Release

PSA creates a subsidiary, Portnet.com Pte Ltd to serve customers better through E-Commerce

PSA has created a new subsidiary company, Portnet.com Pte. Ltd., to focus on helping its customers to increase their productivity and save costs through the greater use of the Internet. At the heart of Portnet.com is the PORTNET® system, which is the world's first, and still the only, nationwide e-commerce network that has the participation of the entire shipping and port community that operates through Singapore. Developed in 1984, and improved over the years, the PORTNET® system encapsulates PSA's years of expert knowledge and experience in the shipping and port industry, providing integrated services to shipping lines, hauliers, freight forwarders, shippers and local government agencies operating in Singapore. In June 1999, in keeping with worldwide technological advances, PSA moved the PORTNET® system onto the Internet platform, thereby opening its doors to the global shipping and port community.

Currently, the PORTNET® system enables a hundred percent electronic end-to-end information workflow and brings together the whole maritime industry in Singapore into a seamless and paperless e-community. The PORTNET® system creates value for its 6,000 users, generating more than 5 million transactions a month. Current PORTNET® system users will continue to enjoy all the benefits of the present system as the transfer from PSA to its subsidiary will be smooth and seamless.

Two of the world's top IT solutions providers, SUN Microsystems and iPlanet, (an alliance between SUN and Netscape) have signed a Memorandum of Understanding with PSA to be its technology partners. They will support Portnet.com's drive to move faster, more flexibly and with more breadth and depth, to better serve our customers' needs.

Beyond its current services, Portnet.com will add value to its customers, in Singapore and around the world, through the addition of new services required by shipping lines, ports and maritime communities. Such services will lower the costs of operations and improve asset optimisation, resulting in a "win-win" partnership for all participating players.

Announcing the launch of Portnet.com at a press conference on 8 May 2000, Dr Yeo Ning Hong, Chairman, PSA Corporation, said, "We see the Portnet.com initiative as a natural extension of our business philosophy to continuously innovate and add value to better serve our customers. Since the early 70's, we have been investing extensively in information technology to give our customers fast, flexible and responsive services, customised to their individual requirements. Portnet.com Pte Ltd was formed as a separate company so that we can serve customers even faster, even more flexibly and even more responsively than before. As one of the world's largest container terminal operators handling about 9% of the world's container market share, PSA is connected by 400 shipping lines to 740 ports. As the world's largest transhipment hub, we are at the crossroads of important cargo and shipping traffic flow. With global technology players such as SUN and iPlanet, we intend to bring our Portnet services to other ports and enhance further our existing services and products."

"We're pleased to take our relationship with PSA to the next level," said Ed Zander, President and Chief Operating Officer of Sun Microsystems, Inc. "By combining the port operating expertise of PSA with the network computing expertise of Sun and iPlanet, the Portnet.com initiative has the potential to revolutionize the maritime industry and bring immense benefits to all participants."

"iPlanet is privileged to enter into a collaborative arrangement and expand our relationship with PSA - the port industry leader. This is a firm acknowledgement of iPlanet's initiatives in the e-commerce space and our market-leading e-commerce infrastructure and applications solutions. We intend to work very closely with PSA to deliver a whole suite of e-market solutions that is specifically tailored for the maritime industry." Mark Tolliver, President and General Manager, iPlanet.

ENDS. ISSUED BY THE CORPORATE COMMUNICATIONS DEPARTMENT, PSA CORPORATION LIMITED.

Background
Some of the facilities currently used by our customers using the PORTNET® system:

• Workflow management;
• Online ordering of port services;
• Resource booking and allocation;
• Facilitation of billing process;
• Linkage to Tradenet and government agencies;
• Virtual e-community of parties in the shipping and port industry,including freight forwarders, hauliers, shippers and shipping lines;
• Cargo clearance

About Sun Microsystems, Inc.
Since its inception in 1982, a singular vision "The Network Is The ComputerTM" has propelled Sun Microsystems, Inc. (Nasdaq: SUNW), to its position as a leading provider of industrial-strength hardware, software and services that power the Internet and allow companies worldwide to ".com" their businesses. With US$14 billion in annual revenues, Sun can be found in more than 170 countries and on the World Wide Web at http://www.sun.com.

Sun, Sun Microsystems, the Sun logo, Solaris, Java, Java Card and The Network Is The Computer are all trademarks or registered trademarks of Sun Microsystems, Inc. in the United States and other countries.

About iPlanet E-Commerce Solutions, a Sun-Netscape Alliance
iPlanet E-Commerce Solutions, a Sun-Netscape Alliance, was established in March 1999 by America Online, Inc. (NYSE: AOL) and Sun Microsystems, Inc. (NASDAQ: SUNW) to provide easy-to-deploy, comprehensive e-commerce solutions for the Net Economy. iPlanet E-Commerce Solutions provides the industry's broadest portfolio of e-commerce infrastructure and applications software and services. The iPlanet Messaging, Directory, Web, and Application server software all enjoy number one market share positions. The portfolio also includes award-winning applications for Strategic Internet Procurement, Internet Trading Communities, Internet Bill Presentment and Payment, and Internet Selling within Open Marketplaces. For more information, consult the iPlanet E-Commerce Solutions Web site at www.iplanet.com or call Singapore 65-63370988.

Also find more details on Portnet.com at website http://www.portnet.com.