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

The Board of Directors of Yongnam Holdings Limited (the "Company") refers to the Company's announcement in relation to the abovecaptioned matter on 22 December 2006.

The United Overseas Bank Limited's appeals were heard today by the Court of Appeal. The Board of Directors is pleased to announce that the appeals were dismissed and upheld the Company's interest in the 23rd floor of Springleaf Tower.


BY ORDER OF THE BOARD

Seow Soon Yong, Chief Executive Officer
11 July 2007