Change Of Name Of Subsidiary Of Cosco Shipyard Group Co., Ltd

Dec 22, 2008

The Board of Directors of COSCO Corporation (Singapore) Limited (the "Company") wishes to announce that COSCO Shipyard Jurong Clavon Co., Ltd. (being a subsidiary of the Company's 51% owned subsidiary, COSCO Shipyard Group Co., Ltd) had changed its name to COSCO Clavon Shipyard Co., Ltd. with effect from 12 November 2008.

For and on behalf of the Board
Jiang Li Jun
Vice Chairman / President
Date: 22 December 2008

Cosco Corporation (Singapore) Limited