Yongnam Holdings Limited

Legal Action Taken By The Company's Subsidiaries, Yongnam Development Pte Ltd And Yongnam Engineering & Construction (Pte) Ltd Against United Overseas Bank Limited

BackDec 22, 2006

The Board of Directors of Yongnam Holdings Limited (the "Company") refers to the Company's announcement in relation to the abovecaptioned matter on 23 November 2006.

The Board wishes to advise that UOB has filed an appeal on 21 December 2006 against the decision of the High Court.

The Board will provide further updates on UOB's appeal in due course.

By Order of the Board,
Seow Soon Yong
Chief Executive Officer
22 December 2006