Singapore, 17 September 2004 – StarHub Ltd (“StarHub”) announced today its initial public offering (“IPO” or “Offering”) of 481.8 million shares (the "Shares") at a Maximum Offering Price of S$1.15 each, in conjunction with its proposed listing on the Main Board of Singapore Exchange Securities Trading Limited.

The Offering consists of an international placement to investors, including institutional and other investors in Singapore, as well as an offering to the public in Singapore (the “Public Offer”) which includes an offering of up to 16.8 million Reserved Shares.

The Shares represent 22.8% of StarHub’s issued share capital and are being offered by certain of StarHub’s current shareholders. NTT Investment Singapore Pte. Ltd. is offering 81.9 million Shares; MediaCorp Pte. Ltd. is offering 0.8 million Shares; BT (Netherlands) Holdings B.V. is offering 228.7million Shares; and Singapore Press Holdings Limited is offering 170.4 million Shares. As all the Shares are being offered by its shareholders, StarHub will not receive any of the proceeds from the IPO.

In connection with the Offering, the Joint Global Co-ordinators of the Offering will be granted an over-allotment option by the shareholders of up to an additional 15% of the Shares offered in the IPO.

Credit Suisse First Boston (Singapore) Limited and UBS AG, acting through its business group, UBS Investment Bank are the Joint Global Co-ordinators, Bookrunners and Lead Managers for the Offering. UOB Asia Limited is the Joint Lead Manager of the Public Offer and the sub-underwriters comprise CLSA Singapore Pte Limited, DBS Bank Ltd, Nomura Singapore Limited, Oversea-Chinese Banking Corporation Limited and The Hongkong and Shanghai Banking Corporation Limited.