For the financial year ended 31 December 2004

We, LIM CHEE ONN and TEO SOON HOE being two Directors of Keppel Corporation Limited, do hereby state that in the opinion of the Directors, the financial statements set out on pages 124 to 175 are drawn up so as to give a true and fair view of the state of affairs of the Company and of the Group at 31 December 2004, the changes in equity of the Company and the results of the business, changes in equity and cashflows of the Group for the financial year then ended, and at the date of this statement there are reasonable grounds to believe that the Company will be able to pay its debts as and when they fall due.

On behalf of the Board

LIM CHEE ONN Executive Chairman		TEO SOON HOE Group Finance Director

Singapore, 1 March 2005