Reduced annual charges

NTUC Income is reducing its annual charges for the following funds from 1 July 2006:

                    New Charges   Old Charges
Singapore Equity       0.65%         1.00%
Growth Fund            1.0050%       1.0575%
Balanced Fund          0.9375%       0.9725%
Conservative Fund      0.8700%       0.8875%

The reduced charge mean more return to our investors.

The largest reduction is for our Singapore Equity fund, which is also one
a top performing fund.