At the close of the bidding exercise at 4.00 pm on 18 August 2004, the Land Transport Authority (LTA) received a total of 6,239 bids for Certificates of Entitlement (COEs). Of these, 5,051 were successful. Detailed results of the tender are as follows:

The Temporary Certificates of Entitlement (TCOEs) obtained from this tender exercise can be used upon receipt of the TCOE notification letters. The non-transferable TCOEs will be valid till 28 February 2005. The transferable TCOEs will be valid till
30 November 2004. TCOEs issued to companies are not transferable.

Bidders can check the status of their bid applications through the following channels:

• LTA Open Bidding Phone System (Tel: 6362 1465)
• LTA Open Bidding website (http://ocoe.lta.gov.sg)
• Citibank Internet Banking (www.citibank.com.sg)
• Citibank Phone Banking (Tel:1800- 883 1118)
• OCBC Phone Banking (Tel: 1800- 363 3333)
• UOB Internet Banking (www.uobgroup.com)

The checking of bid status via the LTA Open Bidding website is only available until 6.00 pm on Friday, 20 August 2004. However, bidders can still check their bid status via the LTA Open Bidding Phone System until 1 September 2004.

Successful applicants will be notified within the week. For unsuccessful applicants, their banks will credit the COE bid deposit into their respective bank accounts.

Owners of existing vehicles can renew their COEs by paying the Prevailing Quota Premium (PQP), which is a moving average of the quota premium of the respective vehicle categories over the last 3 months, i.e. from June 2004 to August 2004 tender exercises. Owners of existing vehicles can renew their COEs using the PQP for September 2004 with effect from Saturday, 21 August 2004.

The PQP for the four categories for the month of September 2004 are as follows:

The PQPs for various vehicle categories are determined as follows:

PQP (Sept 2004) = [QP(Jun'04_{1st open}) + QP(Jun'04_{2nd open}) + QP(Jul'04_{1st open})

+ QP(Jul'04_{2nd open}) + QP(Aug'04_{1st open}) + QP(Aug'04_{2nd open})] /6

Where:

QP(Jun'04_{1st open}) is the QP in the June 2004 first open tender exercise;

QP(Jun'04_{2nd open}) is the QP in the June 2004 second open tender exercise;

QP(Jul'04_{1st open}) is the QP in the July 2004 first open tender exercise;

QP(Jul'04_{2nd open}) is the QP in the July 2004 second open tender exercise;

QP(Aug'04_{1st open}) is the QP in the August 2004 first open tender exercise; and

QP(Aug'04_{2nd open}) is the QP in the August 2004 second open tender exercise.

Application forms for renewal of COEs are available at LTA, 10 Sin Ming Drive, vehicle inspection centres and road tax collection centres. The application form can also be downloaded from our website at www.onemotoring.com.sg.