Singapore legislation

Regulation 2

of Income Tax (Exemption of Foreign Income) Order 2005

Regulation 2

Exemption

Singapore Telecommunications Limited is hereby granted exemption from tax on the foreign dividends received in Singapore by the company from a country outside Singapore, arising from the company’s disposal of its interest in Belgacom S.A. in Belgium, subject to the condition specified in the letter of approval dated 30th March 2004 addressed to the company.