Sale of SembCorp Logistics completed

April 3, 2006

The Board of Directors of SembCorp Industries Ltd (“SembCorp” or the “Company”) refers to the voluntary cash offer (the “Offer”) by Standard Chartered Bank, for and on behalf of Toll (Asia) Pte. Ltd. (the “Offeror”), a wholly-owned subsidiary of Toll Holdings Limited, for all the ordinary shares (“SembLog Shares”) in the capital of SembCorp Logistics Limited (“SembLog”), and its announcements dated 6 March 2006 and 20 March 2006 in relation to the Company’s irrevocable undertaking to accept the Offer in respect of all its SembLog Shares.

Terms defined in the Company’s announcement dated 6 March 2006 shall have the same meanings when used in this Announcement, unless otherwise defined.

The Company wishes to announce that the sale of its entire 60.01% stake in SembLog to the Offeror was completed today.

The Company has received cash proceeds of S$749,227,179, based on the Offer Price of S$1.70. Accordingly, SembLog has ceased to be a subsidiary of the Company or part of the SembCorp group.

In the event the Offeror receives acceptances representing not less than 90 per cent of the SembLog Shares, the Company will receive an additional amount of S$44,072,187 (being the difference between S$749,227,179 and the amount the Company should receive based on the Revised Offer Price of S$1.80), within 21 days of the date the Offeror receives acceptances representing not less than 90 per cent of the SembLog Shares.