MULTIVISION INTELLIGENT SURVEILLANCE LIMITED

INCORPORATION OF MACAU SUBSIDAIRY

The Board of Directors of MultiVision Intelligent Surveillance Limited (the "Company") wishes to announce that its subsidiary, MultiVision Systems & Networks Limited, has incorporated a wholly-owned subsidiary in Macau. Particulars of the new subsidiary are as follows:

Name of Subsidiary : MultiVision Intelligent Surveillance (Macau) Limited

Principal Activities : Sales and marketing of digital video surveillance products and solutions.

Paid Up Capital : MOP$500,000

Shareholders : MultiVision Systems and Networks Limited holding one share of nominal value of MOP$499,000

Mak Tin Sang, holding one share of nominal value of MOP$1,000 (in respect of which he has granted a power of attorney in favour of MultiVision Systems and Networks Limited to exercise certain rights in relation thereto).

The formation of the new subsidiary is not expected to have a material impact on the net earnings or the net tangible assets of the Company for the financial year ending 31 March 2004.

None of the Directors and substantial shareholders of the Company has any interest, direct or indirect, in the aforesaid transaction.

By order of the Board

Dennis Li Kin Keung
Executive Director
8 July 2003

Submitted by Dennis Li Kin Keung, Executive Director on 8 July 2003 to the SGX

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