MANDATORY CONDITIONAL OFFER by STANDARD CHARTERED BANK


for and on behalf of

THE STRAITS TRADING COMPANY LIMITED

(Incorporated in Singapore) (Company Registration No.: 188700008D)

to acquire all of the issued ordinary stock units in the capital of

WBL CORPORATION LIMITED

(Incorporated in Singapore) (Company Registration No.: 191200028Z)

other than those already owned, controlled or agreed to be acquired by
The Straits Trading Company Limited and parties acting in concert with it

DESPATCH OF OFFER DOCUMENT 1. INTRODUCTION 1.1 Offer. Standard Chartered Bank ("SCB"), for and on behalf of The Straits Trading Company Limited (the "Offeror"), refers to the announcement dated 16 January 2013 in connection with the mandatory conditional offer (the "Offer") to acquire all of the issued ordinary stock units in the capital of WBL Corporation Limited other than those already owned, controlled or agreed to be acquired by the Offeror and parties acting in concert with it. 1.2 Despatch of Offer Document. SCB wishes to announce, for and on behalf of the Offeror, that the formal document dated 1 February 2013 (the "Offer Document") containing the terms and conditions of the Offer and the Convertible Bonds Offer (as defined in the Offer Document) and enclosing the appropriate form(s) of acceptances for the Offer and Convertible Bonds Offer has been despatched to all Stockholders and Bondholders (each as defined in the Offer Document) on 1 February 2013. An electronic copy of the Offer Document

will be available on the website of the SGX-ST at www.sgx.com.
Unless otherwise defined, capitalised terms in this Announcement shall bear the same
meanings as set out in the Offer Document.
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2. OFFER DOCUMENT 2.1 Acceptance Forms. Included with the Offer Document are the following documents: 2.1.1 in the case of the Offer Document sent to a Stockholder whose Offer Stock Units are deposited with CDP, the FAA; 2.1.2 in the case of the Offer Document sent to a Stockholder whose Offer Stock Units are not deposited with CDP, the FAT; and 2.1.3 in the case of the Offer Document sent to a Bondholder whose Convertible Bonds are deposited with CDP, the Bonds FAA. Bondholders whose Convertible Bonds are not deposited with CDP should write to the Registrar at The Straits Trading Company Limited c/o Tricor Barbinder Share Registration Services, 80 Robinson Road #02-00, Singapore 068898 to request for a copy of the Bonds FAT. 3. REQUEST FOR OFFER DOCUMENT AND RELATED DOCUMENTS 3.1 Request for Documents. Stockholders and Bondholders (including Overseas Persons) may obtain copies of the Offer Document, the relevant Acceptance Forms and any related documents during normal business hours and up to the Closing Date from Tricor Barbinder Share Registration Services at 80 Robinson Road #02-00, Singapore 068898.

Alternatively, any affected Overseas Person may write to the Registrar at The Straits Trading
Company Limited c/o Tricor Barbinder Share Registration Services, 80 Robinson Road #02-
00, Singapore 068898 to request for the Offer Document, the relevant Acceptance Forms and any related documents to be sent to an address in Singapore by ordinary post at his own risk, up to five Market Days prior to the Closing Date.

3.2 Overseas Persons. The availability of the Offer and the Convertible Bonds Offer to Overseas Persons may be affected by the laws of the relevant overseas jurisdictions. Accordingly, Overseas Persons should inform themselves about and observe any applicable legal requirements in their own jurisdictions. For the avoidance of doubt, the Offer and the Convertible Bonds Offer are made to all Stockholders and Bondholders respectively, including those to whom the Offer Document and the relevant Acceptance Forms accompanying the Offer Document have not been, or will not be, sent.

Overseas Persons are advised to read Section 16 entitled "Overseas Persons" in the Offer
Document.

4. CLOSING DATE

The Offer and the Convertible Bonds Offer will be open for acceptance until 5.30 p.m. (Singapore time) on 1 March 2013 or such later date(s) as may be announced from time to time by or on behalf of the Offeror.
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5. PROCEDURES FOR ACCEPTANCE

The procedures for acceptance of the Offer and Convertible Bonds Offer are set out in Appendices B to D of the Offer Document and in the relevant Acceptance Forms. Stockholders and Bondholders who wish to accept the Offer and/or the Convertible Bonds Offer (as the case may be) may do so by completing and returning the relevant Acceptance Form.

6. RESPONSIBILITY STATEMENT

The directors of the Offeror (including any who may have delegated detailed supervision of this Announcement) have taken all reasonable care to ensure that the facts stated and all opinions expressed in this Announcement are fair and accurate and that no material facts have been omitted from this Announcement, and they jointly and severally accept responsibility accordingly. Where any information has been extracted or reproduced from published or publicly available sources (including, without limitation, in relation to the Group), the sole responsibility of the directors of the Offeror has been to ensure through reasonable enquiries that such information is accurately extracted from such sources or, as the case may be, reflected or reproduced in this Announcement.
Issued by

STANDARD CHARTERED BANK

For and on behalf of

THE STRAITS TRADING COMPANY LIMITED

1 February 2013
Any inquiries relating to this Announcement, the Offer and/or the Convertible Bonds Offer should be directed during office hours to the following:
Praveen D'Souza
Managing Director, Southeast Asia M&A Tel: +65 6596 7546
Fax: +65 6634 9570
Samaresh Singh
Associate Director, Southeast Asia M&A Tel: +65 6596 7525
Fax: +65 6634 9570
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