Press Release

SALE to Change Name to BOC Aviation

26 Jun 2007

Following its acquisition by Bank of China, Singapore Aircraft Leasing Enterprise (SALE) will change its name on 2 July 2007 to BOC Aviation.

The name change reflects the company's new position as a global business within one of the world's largest financial institutions. As BOC Aviation, the company will adopt a new logo and corporate identity based on the established Bank of China brand.

BOC Aviation will continue to be based in Singapore, where it is registered as a private limited company. The full registered name of the company will be BOC Aviation Pte. Ltd.

Chief Executive Officer Robert Martin said that the move signaled the company's expansion as a new member of the BOC group.

"The proven experience of SALE combined with the resources and commitment provided by Bank of China will position BOC Aviation to grow as a leading player in the global aircraft leasing and finance business."

"As BOC Aviation we look forward to providing the same levels of professional service that our customers have come to expect over the years. We also look forward to continuing to work with all our other business partners around the world, including the aircraft and engine manufacturers, equipment suppliers and third party financiers."

SALE currently has a portfolio of 75 aircraft flying with 29 airlines worldwide. In addition, the company has 63 aircraft on firm order with Airbus and Boeing for delivery through to 2012.

Bank of China is the world's sixth largest bank by market capitalisation. It has a global presence, with offices in 27 countries and assets in excess of US$700 billion.