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STATISTICS OF SHAREHOLDINGS

As at 3 March 2006

SUBSTANTIAL SHAREHOLDERS (as shown in the Register of Substantial Shareholders)

Name

Shareholdings registered in the name of substantial shareholders No. of Shares

Shareholdings in which the substantial shareholders are deemed to have an interest No. of Shares

%

UOL Equity Investments Pte Ltd United Overseas Land Limited United Overseas Bank Limited Mr Wee Cho Yaw Telegraph Developments Limited Summit Top Investments Limited JG Summit Philippines Limited JG Summit Holdings, Inc. Mr John Gokongwei, Jr.

78,059,200

(1)

177,847,200

(2)

109,482,900

(3)

246,105,200

(4)

413,255,000

(5)

413,255,000

(5)

413,255,000

(6)

413,255,000

(6)

413,255,000

(6)

86,400,000 - - 24,000 - - - - -

11.94 12.91 7.95 17.87 30.0008 30.0008 30.0008 30.0008 30.0008

- Straits Maritime Leasing Private Limited - Haw Par Capital Pte Ltd

(61,343,000) (6,215,000)

- UOL - UEI

(13,388,000) (164,459,200)

Straits Maritime Leasing Private Limited (“Straits Maritime”) and Haw Par Capital Pte Ltd (“Haw Par Capital”) are wholly owned subsidiaries of Haw Par Corporation Limited (“Haw Par”). Mr Wee has an interest of more than 20% of the voting shares in Haw Par. Therefore by virtue of Section 7 of the Companies Act, Cap. 50, Mr Wee is deemed to have an interest in the UIC shares held by Straits Maritime and Haw Par Capital.

Notes:

(1)

UOL Equity Investments Pte Ltd’s (“UEI”) deemed interest in the shares of UIC is derived from the 78,059,200 shares registered in the name of United Overseas Bank Nominees (Pte) Limited (“UOBN”) (beneficiary is UEI).

  • (2)

    United Overseas Land Limited’s (“UOL”) deemed interest in the shares of UIC is derived as follows:

    • (i)

      13,388,000 UIC shares held in the name of UOBN (beneficiary is UOL); and

    • (ii)

      by virtue of Section 7 of the Companies Act, Cap. 50, UOL, the holding company of UEI is deemed to be interested in the 164,459,200 shares of UIC held by UEI (whether in the name of UOBN or held directly).

  • (4)

    Mr Wee Cho Yaw’s deemed interest in the shares of UIC is derived as follows:

    • (i)

      700,000 shares of UIC registered in the name of UOBN (beneficiary is Mr Wee); and

    • (ii)

      Mr Wee is deemed to be interested in the 245,405,200 shares of UIC held by the following companies (whether in the name of UOBN or held directly):

(3)

United Overseas Bank Limited’s (“UOB”) deemed interest in the shares of UIC is derived from the 109,482,900 shares registered in the name of Tye Hua Nominees Pte Ltd (beneficiary is UOB).

19

- United Industrial Corporation Limited summary financial report 2005

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