1

2

� Creditable performance from Newspaper and Magazine with 6.3% increase in print advertisement revenue amidst prevailing uncertainties

Recurring earnings better than last year with increase of 26.2% to S$135.1m

HIGHLIGHTS FOR 3Q FY08

2

Group operating revenue posted double digit growth of 19.5%

� Improved performance in property segment with substantial contribution from Sky@eleven (+S$38.1m) and Paragon (+S$3.1m)

3

Revenue recognition to-date : S$149.7m� 4Q FY07 : S$71.3m� 1Q FY08 : S$16.1m� 2Q FY08 : S$24.2m� 3Q FY08 : S$38.1m

HIGHLIGHTS FOR 3Q FY08 (cont’d)

3

Group delivered investment income of S$25.7m despite market turmoil

Y-O-Y decline of 65.9% due to :� Higher profit on sale of investments last year� Income from capital reduction exercise by MobileOne Limited last year

Investment

Sky@eleven

On track for grant of Temporary Occupation Permit (TOP) in FY2010

4HIGHLIGHTS FOR 3Q FY08 (cont’d)

4

Paragon

Healthy rental income growth :���� 12.2% increase in income from

rental and related services

Upward revaluation of Paragon –S$2.0bn���� 10% increase from Jun 07

Property yield expected to maintain at above 4% based on market valuation of S$2.0bn, and above 10% based on equity

HIGHLIGHTS FOR 3Q FY08 (cont’d)

Paragon

Healthy rental income growth :���� 12.2% increase in income from

rental and related services

Upward revaluation of Paragon –S$2.0bn���� 10% increase from Jun 07

Property yield expected to maintain at above 4% based on market valuation of S$2.0bn, and above 10% based on equity

5

(65.9)

(15.6)

19.5

158,020133,399Net Profit

75,31225,666Investment Income

26.2107,056135,103Operating Profit #

288,059344,365Operating Revenue

%S$’ 000S$’ 000

Change3Q FY 20073Q FY 2008

Group

* Restated to take into account the retrospective adjustments relating to FRS 40 – Investment Property# Recurring earnings of the media and property business, including Sky@eleven development

Restated *

FINANCIAL HIGHLIGHTS FOR 3Q FY08

5

6

14.6%

5.1%

10.9%

3.6%

6.4%

8.5%7.5%

5.6%

8.4%

4.3%

11.7%

-1.3%

14.3%

8.5%8.1%7.9%

3.2%

13.8%

8.2%

4.2%

10.9%10.2%10.7%

2.1%

6.8%

3.9%

10.2%

-4.0%

-2.0%

0.0%

2.0%

4.0%

6.0%

8.0%

10.0%

12.0%

14.0%

16.0%

18.0%

1QFY07 2QFY07 3QFY07 4QFY07 FY07 1QFY08 2QFY08 3QFY08 YTDFY08

* Classified includes Recruitment and NoticesDisplay Classified* Total

6

SPH Newspaper Advertisement Revenue Y-O-Y Growth %

Display and Classified ads continued to grow despite market uncertainties and a higher base last year

7

-0.7%-2.5%

11.3%

3.4%

-2.3%-4.1%

12.3%

-0.9%

16.6%

-5.0%

0.0%

5.0%

10.0%

15.0%

20.0%

ST SUT BT TNP ZB WB SM BH TM7

Overall circulation levels are sustained

YTD May FY08 Circulation Copies Y-O-Y Growth (%)

8

Driven by expansion into new media and magazine businesses

Headcount for core newspaper business remained flat

Higher variable bonus provision in line with higher operating profits

8

3Q FY2008 Staff Costs increased 13.8%

Annual wage increment followed NWC’srecommendation

9Newsprint Costs

602575

588587

11,82510,96211,37111,155

300

350

400

450

500

550

600

650

4QFY07 1QFY08 2QFY08 3QFY089,000

10,000

11,000

12,000

13,000

14,000

LHS - Prices (US$)RHS - Ave Mthly Consumption (MT)

US$ MT

9

Average Newsprint Charge-Out Price & Monthly Consumption

� Newsprint prices poised to rise further due to :

- Supply crunch further exacerbated by planned curtailment of production capacity by newsprint mills

- Escalating raw material and energy costs

� Impact of higher newsprint prices likely to be significant in FY09

10

� Ad rate increase for 8 newspaper publications, effective 1 Sept 08

• The Straits Times

• The Sunday Times

• Lianhe Zaobao

• The Business Times

• The New Paper

• The New Paper on Sunday

• Berita Harian

• Berita Minggu

���� Most recent ad rate increase in Jan 08

� Rate of increase for Display ranges from 3.5% -8.0%, while that for Classified Display (The Straits Times and The Sunday Times) ranges from 2.7% -9.1%

Advertisement Rate Adjustment

11

0

20

40

60

80

100

120

140

3Q 04 3Q 05 3Q 06 3Q 07 3Q 0825%

27%

29%

31%

33%

35%

37%

39%

41%

Profit before investment income (S$'m) Operating Margin

Print business supporting group operating margin despite new media investments

Note: Comparatives restated to take into account the retrospective adjustments relating to FRS 40 – Investment Property

S$m

11

Recurring Income - Media & Property

Contribution from Sky@eleven

Recurring Earnings (S$’m) OperatingMargin

Operating Margin excluding Sky@eleven

12

���� Launch of Rednano – Singapore’s first local search and directory engine

� SPH Search and Yahoo! announce partnership for global web search capability

Sustaining efforts in New Media investments

12

� JV with the Star Publication (Malaysia) Bhd for provision of digital media services in Malaysia

���� ST701 launches Online Spree shopping

���� Announced foray into Meetings, Incentives, Conventions and Exhibitions (MICE) business through fully owned subsidiary, Sphere Exhibits Pte Ltd

� Formed consortium – OpenNet – for joint-bid to build Singapore’s Next Generation National Broadband Network

���� Launch of Rednano – Singapore’s first local search and directory engine

� SPH Search and Yahoo! announce partnership for global web search capability

� JV with the Star Publication (Malaysia) Bhd for provision of digital media services in Malaysia

���� ST701 launches Online Spree shopping

� Formed consortium – OpenNet – for joint-bid to build Singapore’s Next Generation National Broadband Network

Sustaining efforts in New Media investments

���� Announced foray into Meetings, Incentives, Conventions and Exhibitions (MICE) business through fully owned subsidiary, Sphere Exhibits Pte Ltd

13

- Thank you -