WBL CORPORATION LTD 
By The board of directors (the "Board") of WBL Corporation Limited (the "Company") refers to the announcement (the "Pre-Conditional UE Offer Announcement") made on 30 January 2013 by JP Morgan (S.E.A.) Limited ("JPM") for and on behalf of UE Centennial Venture Pte. Ltd. (the "UE Offeror"), a wholly-owned subsidiary of United Engineers Limited, in relation to the pre-conditional voluntary offers (the "UE Offers") for:
(a) all the issued ordinary stock units in the capital of the Company ("Stock Units"), other than those already owned, controlled or agreed to be acquired by the UE Offeror and parties acting in concert with the UE Offeror; and
(b) all the outstanding 2.5% convertible bonds due 10 June 2014 issued by the Company on 10 June 2009 (the "Convertible Bonds"), other than those already owned, controlled or agreed to be acquired by the UE Offeror and parties acting in concert with the UE Offeror.
2. THE UE OFFERS
The principal terms of the UE Offers are set out in the Pre-Conditional UE Offer
Announcement, a copy of which is annexed to this Announcement.
As further set out in the Pre-Conditional UE Offer Announcement, if and when the Pre-Condition is satisfied or waived, JPM, for and on behalf of the UE Offeror, will announce a firm intention on the part of the UE Offeror to make the UE Offers (the "Formal Offer Announcement Date"). In the event that the Pre-Condition is not satisfied or waived by the UE Offeror on or before 31 May 2013 or such later date as the UE Offeror may determine in consultation with the Securities Industry Council, the
UE Offers will not be made and JPM will issue an announcement, for and on behalf of the UE Offeror, confirming that fact as soon as reasonably practicable.
As set out in the Pre-Conditional UE Offer Announcement, further information on the UE Offers (if and when made) will be set out in the offer document to be issued by JPM for and on behalf of the UE Offeror (the "UE Offer Document"). The UE Offer Document, which will contain the terms and conditions of the UE Offers and enclose the appropriate form(s) of acceptance, will be despatched to Stockholders and Bondholders not earlier than 14 days and not later than 21 days from the Formal Offer Announcement Date.
4. DIRECTORS' RESPONSIBILITY STATEMENT
The directors of the Company (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 (other than those relating to the UE Offeror) are fair and accurate and that, where appropriate, no material facts have been omitted from this Announcement, and they jointly and severally accept responsibility accordingly.
Where any information has been extracted from published or otherwise publicly available sources (including without limitation, the Pre-Conditional UE Offer Announcement), the sole responsibility of the directors of the Company has been to ensure through reasonable enquiries that such information is accurately extracted from such sources or, as the case may be, accurately reflected or reproduced in this Announcement.
By Order of the Board
Tan Swee Hong
Company Secretary
30 January 2013
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