30 December 2002

Press Release - Multivision Intelligent Surveillance Limited Announces First-Half Earnings Results

MultiVision Intelligent Surveillance Limited ("MultiVision"), a Hong Kong-based technology company specialising in the design, development and distribution of digital video surveillance products and solutions, announces its earnings results for the first half ended September 30, 2002.

Key Points

Turnover at HK$39.21m, up 615% from the same period last year

Net earnings at HK$10.51m, against net losses of HK$2.48m the same period last year

Earnings per share at HK$0.0302

Since September 30, 2002, MultiVision

- successfully listed the company's shares on the mainboard of the SGX-ST on 18 December 2002

- raised net proceeds of S$13.3m

- secured a number of digital video surveillance systems contracts, with clients such as the Bangkok Transit System and the St. Louis School Board, USA.

Strategy

?To provide high-end enterprise and customised solutions for customers, and focus on continuous research and development as well as other investment efforts so as to ensure the roll-out of new, technologically-advanced products that will help maintain its competitive edge in the marketplace

Dennis Li, President and Chief Operations Officer of MultiVision, said:

"During the first half, we witnessed a significant year-on-year jump in our turnover and net earnings mainly due to increased demand for our NetSevers and UCWs. Even as we continuously seek to upgrade our products and services, we have so far been very successful in our efforts to secure more contracts from clients across the world. We anticipate an equally strong second-half performance as the global economy starts to pick up and demand for security products and solutions remains robust."

Enquiries:

MultiVision Intelligent Surveillance Limited: +852 2797 5678
Dennis Li, President and COO: dennis_li@multivision.com.hk

Gavin Anderson & Company Tel: +65 6339 9110
Terence Foo : tfoo@gavinanderson.com.sg
Tan Ee Ching: etan@gavinanderson.com.sg

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