5 June 2009

Issue of S$250,000,000 3.20% Series 001 Notes Due 2014 Pursuant to the S$1,000,000,00 Multicurrency Medium Term Note Programme

The National University of Singapore (NUS) today announced the issue of S$250 million 3.20 Per Cent. Series 001 Notes due 2014 (the Notes). The Notes are issued under the S$1,000,000,000 Multicurrency Medium Term Note Programme (the Programme), which was established by NUS on 11 October 2005. The Hongkong and Shanghai Banking Corporation Limited (HSBC) acted as sole lead manager and bookrunner of the Notes.

The Notes are expected to be assigned a rating of "Aaa" by Moody's Investor Service (Moody's) and will mature on 12 June 2014. To date, NUS is the only university in Asia to receive a "Aaa" rating from Moody's.

The net proceeds arising from the issue of the Notes, after the deduction of issue expenses, will be used for the general working capital and capital expenditure requirements of NUS.

The issue of the Notes represent NUS' debut visit to the bond markets and is the first ever bond issue by a university in the Asian bond markets. Strong interest from bond investors resulted in the orderbook being filled within an hour of launch, which enabled the deal to be priced at approximately 70 bps above the 5-yr Singapore-dollar Swap Offer Rate, the tightest 5-yr pricing for a Singapore domiciled corporate since October 2007.

An NUS spokesman said, "We are very pleased with the positive response which we have received from investors for our debut issue. This issue helps us establish NUS' presence in Asian bond markets and enables us to diversify our funding sources."

Mr. Amit Gupta, Managing Director and Head of Global Markets for HSBC in Singapore said, "We are privileged and honoured to have brought an esteemed institution like NUS to the Singapore bond market. By leveraging on HSBC's strong capital markets platform and local knowledge, our facilitation of the first ever bond issue by a university in the Asian bond markets has showcased HSBC's capabilities in delivering high quality financing solutions, and we are indeed well-placed to develop bespoke solutions for other institutions."