Dual listings pact to strengthen capital markets in Singapore and Norway

JOINT NEWS RELEASE FROM OSLO BØRS AND SINGAPORE EXCHANGE

This MOU marks the first formal co-operation between the two exchanges. It also represents the first dual listing co-operation with a sector focus between Singapore and Norway.

The MOU will be signed by the to stock exchange-leaders at a ceremony in Singapore on 8 July 2009 at 5.30pm, witnessed by Mrs Lim Hwee Hua, Minister in the Prime Minister’s Office and Second Minister for Finance and Transport, Singapore. Minister Lim will be joined by Her Excellency, Ms Janne Julsrud, Ambassador, The Royal Norwegian Embassy, Singapore; and Mr J Y Pillay, Chairman of Singapore Exchange.

The proposed co-operation aims to promote the secondary listing of companies listed on each other’s exchange. SGX and Oslo Børs will institute a framework to enable and facilitate dual listings through mutually agreed listing rules and processes. In addition, both exchanges will set up a process for settlement and clearing of shares traded of these dual listed companies. The co-operation will begin with companies in the energy, offshore and shipping sectors which are key sectors common to both exchanges. As such companies expand their business activities to Norway or Singapore, the dual listing framework will allow them to diversify their shareholder base, build their profile and provide an additional fund raising venue.

Another area of co-operation is joint marketing and promotion. Both exchanges plan to commence a series of marketing seminars to profile the sectors in both regions in the coming months. SGX and Oslo Børs will enhance the co-operation framework by exploring opportunities in introducing new sectors, providing regulatory updates, monitoring and governance matters.

Minister Lim Hwee Hua said, “I congratulate SGX and Oslo Børs on the signing of this MOU. The MOU will enhance the attractiveness of the two exchanges as destinations for listings by shipping, offshore and energy companies, as well as those in other sectors. This will in turn reinforce the standing of Singapore and Norway as international maritime and financial centres. This collaboration will also boost Singapore's efforts to position itself as a leading shipping and maritime hub in Asia.”

Mr Hsieh Fu Hua, CEO of SGX added, “We are very pleased to co-operate with the Oslo Børs. This co-operation complements our Asian gateway strategy. Companies from Asia and Europe in the energy, offshore and shipping sectors will be better profiled and benefit from the larger investor pool. Investors on both our bourses will also have a greater selection of investment choices.”

Mrs Bente A Landsnes, CEO of Oslo Børs ASA said, “A co-operation between SGX and Oslo Børs supports the fact that both Singapore and Norway has long, and to a great extent, similar traditions when it comes to shipping and energy-related industries. At Oslo Børs we are proud to join this exciting co-operation, and we have great expectations on behalf of the companies that choose to list their shares on both exchanges.”

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Singapore Exchange Ltd (SGX)
SGX was inaugurated on 1 December 1999, following the merger of two established and well-respected financial institutions - the Stock Exchange of Singapore (SES) and the Singapore International Monetary Exchange (SIMEX). SGX is Asia-Pacific's first demutualised and integrated securities and derivatives exchange and is listed on its own bourse. The exchange's stock is a component of benchmark indices such as the MSCI Singapore's Free Index and the Straits Times Index (STI).

SGX aims to offer a highly trusted, comprehensive and efficient securities and derivatives marketplace for raising capital, risk transfer, trading, clearing and settlement. SGX facilitates the trading and clearing of commodity futures and over-the-counter (OTC) derivatives such as forward freight agreements and oil swaps. Through strategic alliances and partnerships with other exchanges around the world, SGX is firmly positioned as an Asian Gateway.

For more information, please visit SGX website: www.sgx.com

Oslo Børs ASA
Oslo Børs ASA was founded in 1819 and offers the only regulated markets for securities trading in Norway today. The marketplace Oslo Børs is constantly bringing domestic and international investors together with world-class issuers in a fully regulated environment. Investor protection and market surveillance combined with attractive products are at the heart of our dedication to offer quality markets to our users. Oslo Børs offers a full product range including equities, derivatives and fixed income instruments.

For more information, please visit Oslo Børs ASA website: www.oslobors.no