Keppel Corp. Appoints New Director

Sven Bang Ullring has been appointed to the Board of Keppel Corp., effective July 1, 2000. Ullring has extensive experience in the field of engineering, having been involved in building numerous international industrial projects. He is also chairman of the Supervisory Board of Storebrand, a Norwegian insurance company and Norsk Hydro, a global Norwegian company engaged in oil and energy, light metals and fertilizers. A member of the Supervisory Board of ABB, Norway, Ullring also serves on the Board of Directors of Schlumberger Inc. New York.