Daimler Financial Services AG acquired an additional 35% stake in UMF (Singapore) Limited from Jardine Cycle & Carriage Limited (SGX: CO7) for SGD 22.23 million.

12/19/2007

Daimler Financial Services AG acquired an additional 35% stake in UMF (Singapore) Limited from Jardine Cycle & Carriage Limited (SGX: CO7) for SGD 22.23 million in cash on December 19, 2007. Daimler Financial Services acquired 7.56 million UMF (Singapore) shares. The consideration was reached on a willing buyer and willing seller basis, based on the estimated net asset value of UMF as at December 19, 2007. Upon completion of the acquisition Jardine Cycle will own 15% stake in UMF (Singapore). The transaction is not expected to have a material impact on the Jardine Cycle Group’s net tangible assets and earnings per share for the year ending 31 December 2007. Daimler Financial Services AG completed the acquisition of a 35% stake in UMF (Singapore) Limited from Jardine Cycle & Carriage Limited (SGX: CO7) on December 19, 2007.