1 October 2009

MAS WELCOMES THE RECEIVERS' AND TRUSTEE'S ANNOUNCEMENT OF THE SETTLEMENT AGREEMENT FOR THE MINIBOND NOTES

The Monetary Authority of Singapore (MAS) welcomes the announcement by the three partners of PricewaterhouseCoopers LLP appointed as receivers for the Minibond notes, and HSBC Institutional Trust Services (Singapore) Limited, the trustee for the notes, that they have reached a settlement agreement with Lehman Brothers Special Financing Inc. (LBSF), the swap counterparty for the notes.

This is an important development which resolves the legal complexities that had prevented the earlier unwinding of the notes and gives noteholders greater certainty that they will be able to receive the remaining value of their notes.

To read the complete press release, please click here or visit MAS website at
http://www.mas.gov.sg/news_room/press_releases/2009/MAS_Welcomes_the_Receivers_and
_Trustee_Announcement_of_the_Settlement_Agreement_for_the_Minibond_Notes.html