PRESS RELEASE - MULTIVISION SECURES TWO MORE CASINO PROJECTS, COMPLETES THE LEGEND CLUB CASINO PROJECT

MULTIVISION SECURES TWO MORE CASINO PROJECTS, COMPLETES
THE LEGEND CLUB CASINO PROJECT

MultiVision Intelligent Surveillance Limited ("MultiVision" or the "Company"), a leading supplier of digital video surveillance products and solutions, today announced that it has secured two casino projects with Macau's Elixir Group to provide digital video surveillance products and solutions as part of the security requirements for the Royal Hotel Casino and Man Yuen Casino in Macau. At the same time, the Company also announced the completion of the Legend Club Casino project. The Elixir Group is the systems integration arm of online trading solutions provider Value Convergence Holdings, which is listed on the Growth Enterprise Market of the Stock Exchange of Hong Kong.

THE CONTRACT

MultiVision will supply digital video surveillance products and solutions for over 200 cameras in the three casinos operated by Macau gaming company Sociedade de Jogos de Macau, S.A ("SJM"), a subsidiary of Sociedade de Turismo e Diversoes de Macau, S.A.R.L. The employment of up to HK$3.5 million worth of MultiVision's digital video surveillance products and solutions in these three projects forms part of Elixir Group's contract to provide SJM with information technology-related services, including systems integration and network services, for the development of a real-time transmission and monitoring security system for the casinos. These projects follow closely at the heels of the successful completion of the Pharaoh's Palace Casino pilot project in Macau in February this year.

While the Legend Club Casino project was completed in the second quarter of Financial Year 2004 ending 31 March 2004, the Royal Hotel Casino and Man Yuen Casino projects are still underway and should be completed by the end of this month. The Royal Hotel Casino and Man Yuen Casino are two new gaming facilities established by SJM this year, bringing the total number of gaming facilities operated by SJM in Macau from 12 to 14. MultiVision anticipates follow-on projects on the remaining 10 casinos under SJM's management to be completed by the end of Financial Year 2004 in 31 March 2004.

MultiVision's President and Chief Operations Officer, Mr. Dennis Li said, "This is our second series of projects with Elixir Group after the successful completion of the Pharaoh's Palace Casino pilot project, and I believe that we have established a first-rate working relationship with Elixir Group, underscored by our ability to deliver customised digital video surveillance solutions in a timely manner.

"Elixir Group is convinced of our cutting-edge products with state-of-the-art hardware compression technology and our highly-skilled implementation team.

"We are confident that Elixir Group will continue to use MultiVision products and solutions in the remaining SJM casinos. With our track record, we expect other casinos to follow suit."

FINANCIAL IMPACT

The transaction is not expected to have a material impact on the net tangible assets and earnings per share of MultiVision for the Financial Year 2004 ending on 31 March 2004.

INTEREST OF SUBSTANTIAL SHAREHOLDERS AND DIRECTORS

None of the substantial shareholders or the Directors of the Company has an interest in the transaction.

By Order of the Board
MultiVision Intelligent Surveillance Limited

Mr Dennis Li
President and Chief Operations Officer

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For media / institutional enquiries, please contact:

MultiVision Intelligent Surveillance Limited: +65 97630679

Tan Siang Peng : tan_siangpeng@multivision.com.hk
Marketing Manager (Singapore)

Gavin Anderson & Company : +65 63399110

Nick Bryant : nbryant@gavinanderson.com.sg
Associate Director

Evangelina Wee : ewee@gavinanderson.com.sg
Executive

About MultiVision (Bloomberg: MVIS SP EQUITY / Reuters: MVIS SI)

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 has 26 distributors in various countries and/or places such as 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 products 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 a central monitoring centre.

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

Submitted by Dennis Li Kin Keung, Executive Director on 23/09/2003 to the SGX

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