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Investment In Traffic Corner Holdings

BackJan 26, 2006
Description
Further to the announcement of 20 January 2005, the Board of Directors of Singapore Press Holdings Limited (the "Company") wishes to announce that the obligation by its wholly-owned subsidiary, SPH Magazines Pte Ltd ("SPHM") to subscribe for 26 million new shares in the share capital of Traffic Corner Holdings Company Limited ("TCH") under the Subscription Agreement signed between TCH and SPHM on 20 January 2005(the "Agreement") has lapsed as the conditions under the Agreement were not fully satisfied.

However, SPHM's 49% stake in Traffic Corner Publishing Company Ltd, a subsidiary of TCH remains unchanged.

None of the directors of SPH has any interest, direct or indirect, in this transaction.

Issued by : Singapore Press Holdings Limited

Singapore,
26 January 2006
 
 
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