Press Release

SALE Completes S$80 Million Bond Issue

20 Feb 2006

Singapore Aircraft Leasing Enterprise (SALE) has successfully completed its fifth bond offering, comprising S$80 million of three year fixed and floating rate notes. The issue, which was underwritten and lead managed by Standard Chartered Bank, closed last Friday, 17 February, and was oversubscribed. The issue attracted a wide range of institutional investors. Proceeds will be used for working capital.

Since SALE began operations 12 years ago it has raised over US$5 billion in funding. This includes S$505 million raised in the Singapore bond market, where the company has issued three unsecured medium-term notes for tenors of between one and three years and two secured long-term notes with tranches of five, seven and 10 year terms.

SALE is the leading aircraft leasing company in the Asia-Pacific region, with a current portfolio of 75 aircraft flying with 31 airlines worldwide.

*******