KEL Kelda Grp.

RNS Number:3885M
GIC Special Investments PTE Ltd
23 January 2008


                                                                    FORM 8.1

          DEALINGS BY OFFERORS, OFFEREE COMPANIES OR THEIR ASSOCIATES

                  FOR THEMSELVES OR FOR DISCRETIONARY CLIENTS

                 (Rules 8.1(a) and (b)(i) of the Takeover Code)





1.         KEY INFORMATION


Name of person dealing (Note 1)                Government of Singapore Investment Corporation Pte Ltd
Company dealt in                               Kelda Group plc
Class of relevant security to which the        20 2/9 pence ordinary shares
dealings being disclosed relate (Note 2)

Date of dealing                                16 January 2008






2.         INTERESTS, SHORT POSITIONS AND RIGHTS TO SUBSCRIBE



(a)        Interests and short positions (following dealing) in the class of
relevant security dealt in (Note 3)


                                                             Long                              Short


                                               Number                           Number
                                                          (%)                              (%)

(1) Relevant securities                        2,163,573                        N/A
                                                             0.785                                 N/A

(2) Derivatives (other than options)           N/A                              N/A
                                                                 N/A                               N/A

(3) Options and agreements to purchase/sell    N/A                              N/A
                                                                 N/A                               N/A

Total                                          2,163,573                        N/A
                                                            0.785                                  N/A




(b)        Interests and short positions in relevant securities of the company,
other than the class dealt in (Note 3)


Class of relevant security:                                  Long                              Short


                                               Number                           Number
                                                          (%)                              (%)

(1) Relevant securities                        N/A                              N/A
                                                                 N/A                               N/A

(2) Derivatives (other than options)           N/A                              N/A
                                                                 N/A                               N/A

(3) Options and agreements to purchase/sell    N/A                              N/A
                                                                 N/A                               N/A

Total                                          N/A                              N/A
                                                                 N/A                               N/A




(c)        Rights to subscribe (Note 3)


Class of relevant security:                    Details


N/A                                            N/A






3.         DEALINGS (Note 4)



(a)        Purchases and sales


Purchase/sale                          Number of securities                  Price per unit (Note 5)


Acquisition                            14,323                                GBP 10.81





Explanatory note:

Government of Singapore Investment Corporation Pte Ltd ("GIC") is an associate
of GIC Special Investments Pte Ltd, which is a member of the consortium
investing in the proposed acquisition of Kelda Group plc by Saltaire Water
Limited. GIC is invested in a third party investment fund (the "Fund") which
tracks the MSCI Europe index.  The Fund is managed externally from GIC and GIC
has no control or influence over the investment or voting decisions of the Fund.

On 16 January 2008 GIC redeemed a portion of its interest in the fund.  The
redemption will be in kind, not in cash.  Under the redemption GIC will acquire
various listed securities in amounts pro rata to GIC's interest in the Fund.
These securities will include 14,323 Kelda Group plc ordinary shares.  These
shares will be transferred to GIC on 23 January 2008.



(b)        Derivatives transactions (other than options)


Product name,         Long/short (Note 6)       Number of securities (Note 7)        Price per unit (Note 5)

e.g. CFD
N/A









(c)        Options transactions in respect of existing securities

(i)         Writing, selling, purchasing or varying


Product name,         Writing, selling, Number of securities  Exercise   Type, e.g.      Expiry     Option money
                        purchasing,     to which the option              American,
e.g. call option      varying etc.      relates (Note 7)      price      European etc.   date       paid/received per
                                                                                                    unit (Note 5)

N/A





(ii)        Exercising


Product name, e.g. call option         Number of securities                  Exercise price per unit (Note 5)
N/A





(d)        Other dealings (including new securities) (Note 4)


Nature of transaction (Note 8)         Details                               Price per unit (if applicable) (Note 5)


N/A













4.         OTHER INFORMATION



Agreements, arrangements or understandings relating to options or derivatives




Full details of any agreement, arrangement or understanding between the person disclosing and any other person relating
to the voting rights of any relevant securities under any option referred to on this form or relating to the voting
rights or future acquisition or disposal of any relevant securities to which any derivative referred to on this form is
referenced.  If none, this should be stated.


N/A







Is a Supplemental Form 8 attached? (Note 9)
            NO




Date of disclosure                                                23 January 2008

Contact name                                                      Stuart Baldwin / Doris Lai

Telephone number                                                  020 7725 3888

Name of offeree/offeror with which associated                     Saltaire Water Limited
Specify category and nature of associate status (Note 10)         Fellow subsidiary of an equity investor in
                                                                  Saltaire Water Limited





Notes



The Notes on Form 8.1 can be viewed on the Takeover Panel's website at
www.thetakeoverpanel.org.uk




























































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            The company news service from the London Stock Exchange
END

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