Press Release

SALE Mandates Second Bond Issue

11 Jun 2001

SINGAPORE – 11 June 2001 – Singapore Aircraft Leasing Enterprise, (“S.A.L.E.”) today announced the mandate of a Singapore dollar-denominated corporate bond issue. The fixed rate bond, has been mandated jointly to UOB Asia Limited and Keppel TatLee Bank Limited. This bond issue is expected to raise S$200 million to finance the acquisition of a new Boeing 777-200ER aircraft. This is the second bond issue by S.A.L.E. and follows its successful inaugural issue in April 2000, which was also managed and underwritten by UOB Asia Limited (“UOBA”).

Robert Martin, S.A.L.E. Managing Director, commented, “The Singapore-dollar bond market offers an alternative and cost-effective method of raising financing to fund S.A.L.E.’s expansion. We are delighted at being able to achieve this diversified form of financing with UOB Asia and Keppel TatLee Bank who, by arranging and underwriting our second bond issue, have demonstrated their confidence in S.A.L.E.”

“Our successful track record of profitable expansion since our formation and the expanding aircraft market are the main reasons why investors would be interested in subscribing to our bonds,” MrMartin said.