SMRT Discussing Partnership with BYD the Largest Electric Bus Manufacturer in World for the Rights to Sell Electric Vehicles in Singapore

SINGAPORE--June 3, 2011: SMRT Corporation Ltd. and its wholly owned subsidiary SMRT International Pte Ltd (“SMRT”) Singapore’s premier multi-modal transport service provider is pleased to announce that it has signed a Memorandum of Understanding (“MOU”) with BYD Company Limited (BYD a leading-edge provider of green energy technology based in Shenzhen China) to enter into discussions regarding the possibility of establishing a joint venture to distribute electric vehicles, namely; all-electric, long-range, eBUSes and all-electric, long-range e6 Taxis in Singapore. This partnership with BYD would enhance SMRT’s commitment to environmentally sustainable transportation solutions.

“The successful operation of the e6 taxis in Shenzhen for over a year now has proven the reliability of these EVs and our battery technology”

SMRT became the first public transport provider in Singapore and South East Asia to purchase Euro V compliant buses in May 2008 and now has more than 140 Euro V buses on the roads. SMRT Corporation Ltd’s Executive Vice President, Commercial Business & Roads Ms Teo Chew Hoon said, “In our day-to-day operations at SMRT, we look into air, water and energy management diligently. To further promote better air quality, we are exploring the use of electric vehicles in our bus and taxi fleets and are pleased to announce our MOU with BYD, one of the world’s leading green technology companies.”

The BYD eBUS-12 and the e6 all-electric Taxis are a leap forward in transportation technology and both can travel up to 300KM with a single electric charge -- the longest range available in the market. At the core of the eBUS and e6 (a 5-seat crossover all-electric vehicle) technology are BYD’s Iron Phosphate or “Fe” battery technologies. The Fe battery boasts the highest safety, longest service life and most environmentally friendly rechargeable chemistry. Integrating the “Fe” battery, the eBUS and e6 can travel up to 300 kM in range per charge. The BYD e6 has been used as taxis in Shenzhen, China for over a year now and is referenced in the recent “BYD Fleet Summary“ released April 29^th, 2011. The fleet of 50 e6 Shenzhen taxis, in service since May 2010, have now surpassed 3 million kilometers in cumulative fleet miles. “The successful operation of the e6 taxis in Shenzhen for over a year now has proven the reliability of these EVs and our battery technology,” according to Stella Li, SVP of BYD.