SGX Announces Changes In Senior Management

Singapore Exchange Limited (SGX) today announced the retirement of Mr Ang Swee Tian as President at the end of 2005. Mr Ang will continue to serve as Senior Adviser to SGX.

Mr Hsieh Fu Hua, Chief Executive Officer of SGX said, "I would like to express my heartfelt gratitude to Swee Tian who has served SGX and previously SIMEX ably and tirelessly for 22 years. He has been a wonderful colleague and supported me very well on the Executive Committee since I joined in 2003. I am very glad that Swee Tian has agreed to serve as Senior Adviser at our request. With his extensive experience, he will assist us in various market development initiatives in commodities and OTC clearing."

Mr Ang has made significant contributions to SIMEX and SGX. He led SIMEX from its launch to become one of the leading derivatives exchanges in Asia. It was during his time at the helm that SIMEX launched its landmark Mutual Offset System with the Chicago Mercantile Exchange in 1984, a partnership that has endured for over 20 years. He was also instrumental in the launch of the Nikkei 225 and MSCI Taiwan futures contracts which are now the flagship products of SGX's derivatives market.

SGX is also pleased to announce the promotion of Mr Gan Seow Ann, Executive Vice President and Head of Markets Group, and Mr Seck Wai Kwong, Executive Vice President and Chief Financial Officer, to Senior Executive Vice President. There will be no change in their current role as Group Heads.