- Public Offer Over Subscribed

- IPO Priced At S$0.95 Per Offering Share


Singapore, 6 October 2004 - StarHub Ltd (“StarHub”), Singapore’s fully-integrated information, communication and entertainment company, providing mobile, cable TV, broadband and fixed network services, announced today that its initial public offering (the “IPO” or the “Offering”) of 481.8 million shares (the "Offering Shares") has been priced at S$0.95 per Offering Share following the successful completion of a global book-building process.


The Offering, which closed yesterday, consists of an international placement (the “Placement”) to investors, including institutional and other investors in Singapore, as well as an offering to the public in Singapore (the “Public Offer”), including reserved shares.


Credit Suisse First Boston (Singapore) Limited and UBS AG, acting through its business group, UBS Investment Bank, (together the “Joint Global Co-ordinators”) are the Joint Global Co-ordinators, Bookrunners and Lead Managers for the Offering. UOB Asia Limited (together with the Joint Global Co-ordinators, the “Lead Managers”) is the Joint Lead Manager of the Public Offer.


The transaction was over two times subscribed and 451.8 million Offering Shares have been allocated to the Placement tranche and 30 million Offering Shares have been allocated to the Public Offer, raising gross proceeds of about $457.7 million.


“We are pleased with the level of interest in StarHub’s IPO. We believe that StarHub's demonstrated track record of improving cash flows while expanding its customer base for Mobile, Broadband, Cable TV, and Fixed Network services was central to securing good international demand for our shares,” said Mr Terry Clontz, President and CEO of StarHub.


Further details on allocations will be published in one or more of the major Singapore newspapers prior to the listing of StarHub shares on the Mainboard of Singapore Exchange Securities Trading Limited (the “SGX-ST”), which is currently expected to take place on 13 October 2004.


In connection with the Offering, the Joint Global Co-ordinators have been granted an over-allotment option (the “Over-allotment Option”) by the selling shareholders, exercisable by Credit Suisse First Boston (Singapore) Limited in consultation with UBS AG, acting through its business group, UBS Investment Bank, in full or in part within 30 days from the date of commencement of dealing in our shares on the SGXST, to purchase from the selling shareholders up to an aggregate of 72.2 million shares at the Offering Price, solely to cover the over-allotment of Offering Shares.


Immediately after completion of the Offering, new institutional and retail shareholders will hold 22.76% of the Company.


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These materials are not an offer of securities for sale in the United States. The securities may not be offered

or sold in the United States absent registration or an exemption from registration under the U.S. Securities

Act of 1933, as amended. Any public offering of securities to be made in the United States will be made by

means of a prospectus that may be obtained from the company that will contain detailed information about

the company and management, as well as financial statements. Neither the company nor any selling

shareholder intends to register any portion of the offering in the United States or to conduct a public offering

of securities in the United States.


Not for distribution in the United States.