Press Release

ALLIES™ to help shipping lines enhance competitiveness of alliance operations in Singapore

Singapore, 31 May 2005 -- The exchange of information among shipping alliance members will be made easier and more efficient with ALLIE S™, an “ Alliance Hubbing Solution” offered by Portnet.com Pte Ltd, a subsidiary of PSA Corporation Ltd.

Targeted at improving alliance operations and slot sharing arrangements, ALLIES™ streamlines information exchange on slot forecasting, slot utilisation reporting and vessel schedules among shipping partners. It is a single integrated platform for shipping partners to exchange and consolidate information on a regular basis. Management information can also be generated automatically through ALLIES™. This will facilitate better planning and maximise slot utilisation of vessels for shipping line partners.

Typically, shipping lines in Singapore collectively spend more than 6,000 man-hours per month consolidating and coordinating slot information exchange withother alliance members. Manual information exchange can be error prone.However, with ALLIES™, shipping lines can access a central information repository that updates information on a real-time basis. ALLIES™ can be integrated with individual shipping line’ s in-house database system. It can streamline operations and reduce by more than 50 per cent, the amount of time spent on manual information exchange.

The Maritime and Port Authority of Singapore (MPA), under its Maritime Innovation and Technology Fund (MINT) Programme, has approved a funding of $171,000 to help shipping lines adopt ALLIES™ in their daily operations.

“Maritime innovations and technology continue to be a key driver in Singapore’ s development as a premier global hub port and an International Maritime Centre (IMC). The ALLIES™ project is another excellent example of PSA’s innovations to bring about greater operational efficiency and convenience to its shipping alliance operators when they hub in Singapore. The MPA champions such unique and innovative projects and is committed to encouraging more public and private sector partnerships to develop B2B links and automate transactions within the Singapore port. I am confident that ALLIES™ would further strengthen PSA’ s lead as a world -class port terminal operator,” said BG Tay Lim Heng, Chief Executive, MPA.

“With ALLIES™, shipping lines can now make use of this platform to optimise their processes and achieve greater efficiency in their operations. The funding by MPA would accelerate the adoption of IT solutions by the industry to support alliance operations in Singapore, which would further enhance our efficiency as an alliance hub. I would like to thank MPA for their excellent support in building the competitiveness of the shipping industry. PSA’s strength lies in our ability to handle large-scale, complex transhipment arrangements efficiently, and value-add to customers’ needs in their hubbing operations. We will continue to invest in technology to provide world-class service to meet the needs of our customers,” said Ms Grace Fu, CEO, South East Asia and Japan, PSA International."

PSA announced this initiative to key industry players at the launch of the inaugural Portnet Advisory Board meeting on 31 May 2005. The annual meeting brings together leaders in the shipping industry to discuss emerging technology trends and identify potential areas of joint collaboration on the technology front that will enhance the competitiveness of the shipping industry in Singapore.

About MPA and MINT Fund
The Maritime and Port Authority of Singapore (MPA) was established on 2 February 1996 as a
statutory board under the Ministry of Transport with the key functions of developing and
promoting Singapore as a premier global hub port and an international maritime centre, and to
safeguard Singapore’ s strategic maritime interests. As the designated 'Champion Agency', the
MPA is tasked with expanding the Singapore maritime sector by developing a strong and
attractive cluster of ancillary services. These range from, among others, ship roking/management, marine insurance/finance, maritime legal/arbitration services, R&D initiatives, and manpower expertise.
In September 2003, the MPA established the S$100 million MINT Fund to develop a strong and vibrant Maritime Technology Cluster in Singapore by supporting maritime R&D, test-bedding of maritime technologies and provide seed funding for maritime technology start-ups. A platform under the MINT Fund is the Test-bedding, Research and Innovation Development for New-maritime Technologies (TRIDENT) for co-funding technology companies that wish to undertake maritime research, develop innovations and use Singapore’ s port and maritime facilities as test-beds for trials of their innovations. Websites: www.mpa.gov.sg and www.singaporemaritimeportal.com

About Portnet.com
Portnet.com, a subsidiary of PSA Corporation Limited, is a net-generation company run by a
team of Internet-savvy, port operations and port system experts. It was formed to focus on
helping customers increase their productivity and save costs through the greater use of
Information Technology and the Internet. Portnet.com is well positioned to create effective
operational solutions for its customers in the port and shipping community. 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. In line with Portnet.com's mission, such services will lower the costs of operations
and improve asset utilisation, resulting in "win-win" partnerships for all participating players.
Website: www.portnet.com

About PSA
PSA Singapore Terminals is the world’ s largest container transhipment hub. PSA operates 4
container terminals and 2 multi-purpose terminals in Singapore. It links shippers to an excellent
network of 200 shipping lines with connections to 600 ports in 123 countries. Shippers have
access to daily sailings to every major port in the world at this mega hub. Its position as a
standard-bearer of excellence in port operations has consistently been recognised by the
shipping community. It was voted the 'Best Container Terminal Operator (Asia)' for the 16th
time at the 2005 Asian Freight & Supply Chain Awards, and 'Best Container Terminal Operator'
at the Lloyd's List Maritime Asia Awards 2004 for the fifth time since its inauguration in 1999.
Its parent company, PSA International was recently voted the “ Best Global Terminal Operator”, an inaugural award at the 2005 Asian Freight & Supply Chain Awards. Website:
www.psa.com.sg

For more information, please contact:

Ms Jeannie Tay
Corporate Communications Officer
Maritime and Port Authority of Singapore
DID: 6375 1628
Mobile: 975 99703
Email: Jeannie_M_S_TAY@mpa.gov.sg

Ms Lee Siew Hoon
Deputy Manager (Media & Promotions)
Corporate Communications
PSA Corporation Ltd
Mobile: 9730 4783
Email: shlee@psa.com.sg