Chiyoda: Award of EPCm Contract for Pulau Bukom Refinery Long Residue Catalytic Cracking Unit Revamp Project in Singapore

Business Wire, August 14, 2007

YOKOHAMA, Japan -- Chiyoda Corporation (TOKYO:6366)(ISIN:JP3528600004) announced today that they have been awarded the Contract by Shell Eastern Petroleum (Pte) Ltd (SEPL), a company of Royal Dutch Shell group in Singapore, for engineering, procurement service and construction management (EPCm) for the Long Residue Catalytic Cracker Unit ("LRCCU") Revamp Project on August 13th, 2007. The Front End Engineering Design was completed by Chiyoda Singapore (Pte) Limited (CSL), subsidiary of Chiyoda Corporation in Singapore. The work will be executed by Chiyoda Corporation, as prime contractor, with CSL as nominated sub-contractor.

"We are pleased to have appointed Chiyoda as our EPCm contractor and look forward to the successful implementation of the project. Chiyoda constructed the plant in 1990 and was involved in subsequent revamps of the unit. I am confident their experience will be beneficial to this project," said Martijn A. van Koten, SEPL General Manager, Bukom Site, at the contract signing ceremony.

Chiyoda Corporation, headquartered in Yokohama, Japan, provides services in the field of engineering, procurement and construction for gas processing, refineries and other hydrocarbon and industrial plant projects, particularly in refinery areas, on a global basis including the Middle East and South East Asian regions. For almost 60 years, Chiyoda has constantly leveraged its extensive experience and a far-reaching global network to give it an unrivaled advantage. Chiyoda continues to provide best solutions in the areas, such as the Middle East and South East Asian regions, where many refinery projects are expected in the future.