Press Release

SALE Acquired by Bank of China

15 Dec 2006

Singapore Aircraft Leasing Enterprise (SALE) is pleased to confirm that the company has today been acquired by Bank of China Limited.

Bank of China is one of the world's largest banks by market capitalisation, with a global presence and assets in excess of US$600 billion. The resources and commitment provided by Bank of China as sole shareholder will position SALE to build on its past success and to accelerate its expansion as a leading player in the aircraft leasing and finance business.

Operating as a standalone unit within Bank of China, SALE will continue to be headquartered in Singapore and run by the existing management team led by Chief Executive Officer Robert Martin.

Everyone at SALE looks forward to working with customers, suppliers and all other business partners as the company moves into a new and exciting phase in its development.