18 December 2002

MultiVision Intelligent Surveillance Announces Listing On The Singapore Stock Exchange And That Its Public Offer Was 7.8 Times Subscribed

Singapore, 17 December 2002 - MultiVision Intelligent Surveillance Limited (“MMultiVision, a Hong Kong based technology company which specialises in the design, development and distribution of digital video surveillance products and solutions, is pleased to announce the listing of its shares on the Main Board of the Singapore Exchange Securities Trading Limited (the “SGX-ST?.

Highlights

MultiVision will list 70.1 million new shares at S$0.23 per share on the Main Board of the SGX-ST. The shares will commence trading on Wednesday 18 December 2002.

MultiVision’s IPO received a total of 1,315 valid applicants for the 10,500,000 Offer Shares applying for a total of 82,192,000 Shares with application monies received amounting to approximately S$18.9 million.

Based on the 10,500,000 Offer Shares, the Public Offer was approximately 7.8 times subscribed. Based on the total Invitation size of 70,100,000 New Shares and the total applications amounting to 141,792,000 Shares (comprising the 82,192,000 public shares and the 59,600,000 placement shares), the Invitation was approximately 2 times subscribed.

The IPO will raise total net proceeds of S$13.3 million, of which S$2.0 million will be used to finance regional expansion; S$3.3 million for potential acquisitions and investments in complementary businesses; and S$6.7 million for R&D activities. The remaining S$1.3 million will be used to fund working capital requirements.

Commenting on the listing of MultiVision, Mr Louis Mak, Chief Executive Officer and Chief Technology Officer of MultiVision, said:

“TToday is a key date in the history of MultiVision, and we are delighted with the response from investors to our offering. The listing on the Singapore Exchange, and establishment of a regional sales and marketing office in the city, are significant steps towards us tapping the growth potential of the digital video surveillance products and solutions market in Southeast Asia. Furthermore, we remain committed to maintaining the competitive advantage of our products and solutions through the continued enhancement of our research and development capabilities.

Pheim Asset Management (Asia) Pte Ltd, Phillip Capital Management (S) Ltd and Commerzbank Asset Management Asia Ltd each subscribed in aggregate more than 5 per cent of MultiVision’s Invitation Shares for the various funds managed by each of them.

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For further information contact:

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

SBI E2 Capital Tel: + 65 6220 6550
Choo Chee Kong: peterchoo@softbank.com.hk

Gavin Anderson & Company Tel: + 65 6339 9110
Terence Foo: tfoo@gavinanderson.com.sg Mobile: 9878-8787

Julian Wilson: jwilson@gavinanderson.com.sg Mobile: 9738-5851

About MultiVision

Headquartered in Hong Kong, MultiVision was established in 1986 and is a technology-based company principally engaged in the design, development and distribution of digital video surveillance products and solutions. The Company’s products are adapted for use in a diverse range of industries including banking, residential, commercial, utilities, healthcare, and transportation as well as various government agencies. The end-users of MultiVision’s products include companies in both the private and public sectors. MultiVision is ISO9001 certified.

MultiVision’s products and solutions are marketed to distributors, OEM’s of surveillance products and systems integrators for integration into the security and surveillance systems of its end users. The Company’s principal markets are in Australia, Hong Kong, Taiwan and the PRC. In addition, as at 30 September 2002, MultiVision had 26 distributors in various countries and/or places including Hong Kong, Taiwan, Macau, the PRC, Thailand, Malaysia, Singapore, Indonesia, Australia, New Zealand, Israel, Ghana, The Middle East, Ireland, UK, Latvia and the USA.

The MultiVision range of digital video surveillance product offers digital video recording and real time monitoring of multiple locations from a central monitoring centre through the routing of signals from various cameras to the central monitoring centre.

For further information see: www.multivision.com.hk

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