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United Industrial Corporation Limited summary financial report 2005 -

STATISTICS OF SHAREHOLDINGS

As at 3 March 2006

UEI is a wholly-owned subsidiary of UOL. Mr Wee has an interest of more than 20% of the voting shares in UOL. 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 UOL and UEI.

  • (5)

    Telegraph Developments Limited’s (“Telegraph”) deemed interest in the shares of UIC is derived as follows:

    • (i)

      426,000 shares held by CIMB-GK Securities Pte Ltd (beneficiary is Summit Top Investments Limited (“Summit Top”)),

    • (ii)

      358,830,000 shares held by Overseas Chinese Bank Nominees Pte Ltd (beneficiary is Telegraph); and

    • (iii)

      53,999,000 shares held by UOBN (beneficiary is Telegraph).

Telegraph and Summit Top are indirect wholly-owned subsidiaries of JG Summit Holdings, Inc. and are therefore related companies.

  • (6)

    By virtue of Section 7 of the Companies Act, Cap. 50, the following parties are deemed to be interested in the shares of UIC held by Telegraph:

    • (i)

      JG Summit Philippines Limited, the holding company of Telegraph;

    • (ii)

      JG Summit Holdings, Inc., the holding company of JG Summit Philippines Limited; and

    • (iii)

      Mr John Gokongwei, Jr., who has an interest of more than 20% of the voting shares in JG Summit Holdings, Inc..

RULE 723 OF THE SGX-ST LISTING MANUAL

Based on the information available to the Company as at 3 March 2006, approximately 44% of the issued ordinary shares of the Company is held by the public and therefore the Company has complied with the Exchange’s requirement that at least 10% of equity securities (excluding preference shares and convertible equity securities) in a class that is listed is at all times held by the public.

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