KS TECH LTD KS TECH LTD

NEWS RELEASE (Member of KIM SENG GROUP)(Company Registration No. 198300104G)KS Tech Ltd To Become KS Energy Services LimitedNew Name, New Markets, New GrowthCompany Places 10 million New SharesTo Seletar Investments & Aranda InvestmentsSingapore, 25 January 2005 – Singapore Exchange mainboard listed KS Tech Ltd(“KS Tech” or the “Company”), an energy services group, is pleased to announce aproposed change of name from KS Tech Ltd to KS Energy Services Limited. Thenew name better reflects the Group’s diversification into the related energy servicesbusiness of providing refurbished offshore oil rigs and platforms to customersinvolved in oil & gas exploration, development and production, and represents newmarkets with new growth opportunities for the GroupIn the last 14 months, KS Tech has secured three long-term rig charter and rigrelatedcontracts from major oil companies. The 8-year US$56 million rig chartercontract with China Oilfield Services Ltd signed in November 2003 was followed by a3-year agreement in July 2004 with a listed Chinese state owned company to provideprocurement, repair and support services to a jack-up drilling rig that was sourced,upgraded and sold to the client by KS Tech. In August 2004, a KS Tech joint venturesigned a 3-year rig refurbishment and charter contract with Maersk worth about Euro50 million.The new name KS Energy Services Limited has been reserved with the Accountingand Corporate Regulatory Authority and the name change is subject to shareholders’approval at an Extraordinary General Meeting to be convened on the same day asthe forthcoming Annual General Meeting.In a separate development today, the Company is pleased to announce that it hasentered into an agreement to place out 10 million new ordinary shares of par valueS$0.10 each of the Company to Seletar Investments Pte Ltd (“Seletar”) and ArandaInvestments Pte Ltd (“Aranda) at S$0.89 per new share. Seletar and Aranda are bothultimately wholly owned subsidiaries of Temasek Holdings (Pte) Ltd (“Temasek”).

(Member of KIM SENG GROUP)(Company Registration No. 198300104G)The 10 million new shares represents approximately 7.82% of the existing sharecapital of the Company, or 7.26% of the enlarged share capital. The placement priceof S$0.89 per new share represents a discount of approximately 8.7% to theweighted average price for trades done on the Company’s shares on the SingaporeExchange on 24 January 2005. The net proceeds of about S$8.75 million from theshare placement will reinforce the Company’s working capital and support theexpansion of the energy services provided by the Group.Mr. Tan Kim Seng, the Executive Chairman of KS Tech commented, “We warmlywelcome Temasek Holdings as a new shareholder of the Company. I believe KSTech will be able to benefit from Temasek’s extensive international network andglobal contacts as we seek new growth from new markets. I look forward to workingwith them in growing our business.”About KS TechListed on SGX-SESDAQ on 6 August 1999 and upgraded to the Mainboard on 11March 2002, KS Tech is an energy services group catering to the oil & gas andpetrochemical industries in China and South East Asia.In addition to distributing more than 60,000 oil & gas related products thatencompass over 120 international brands, the Group through a series of acquisitionsin the last few years enhanced its expertise in the related services of procurement,distribution, engineering and offshore chartering to support its customers.Over the last two decades, the Group has established very close workingrelationships with major oil & gas companies in the region. In leveraging its enhancedexpertise as a leading one-stop supply and services provider with these long termrelationships, KS Tech was able to provide higher value-added services by procuringand supplying offshore refurbished rigs to CNOOC group and Maersk under the threeexisting long term contracts secured in the last 14 months.Headquartered in Singapore, the Group has subsidiaries and representative officesin China, Vietnam, Middle East, Thailand, and Malaysia.Contact InformationKS Tech LimitedMr. Chew Thiam KengManaging DirectorTel: (65) 6415 0833Fax: (65) 6898 4419E-mail: chewtk@kstech.com.sgCyrus Capital ConsultingMr. Lee Teong SangPrincipal ConsultantTel: (65) 6254 6973Fax: (65) 6254 6811E-mail: teongsang@cyrus.com.sg