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Stock Exchange Announcements and Reports

Notice of a Substantial Shareholder's Interest

BackApr 11, 2007

>> PART I

1. Date of notice to issuer * 29-03-2007

2. Name of Substantial Shareholder * United Overseas Bank Limited ("UOB")

3.	Please tick one or more appropriate box(es): *
	Notice of a New Substantial Shareholder's interest. [Please complete Part II and IV]

>> PART II

1. Date of change of Deemed Interest 27-03-2007

2. Name of Registered Holder Discretionary funds managed by UOB Asset Management Ltd

3. Circumstance(s) giving rise to the interest or change in interest # Others

# Please specify details

Subscription for and allotment of First Ship Lease Trust units for UOB Asset Management Ltd for clients portfolios and Unit Trust Funds managed on discretionary basis.

4. Information relating to shares held in the name of the Registered Holder

No. of Shares held before the change	0
As a percentage of issued share capital	0.00 %

No. of Shares which are subject of this notice	29,000,000
As a percentage of issued share capital	5.80 %

Amount of consideration (excluding brokerage and stamp duties) per share paid or received 0.98

No. of Shares held after the change	29,000,000
As a percentage of issued share capital	5.80 %

>> PART III

1. Date of change of [Select Option]

2. The change in the percentage level From % To %

3. Circumstance(s) giving rise to the interest or change in interest [Select Option]

# Please specify details

A statement of whether the change in the percentage level is the result of a transaction or a series of transactions:

>> PART IV

1.	Holdings of Substantial Shareholder , including direct and deemed interest :

	Direct	Deemed
No. of shares held before the change	0	0
As a percentage of issued share capital	0 %	0.00 %
No. of shares held after the change	0	29,000,000
As a percentage of issued share capital	0 %	5.80 %