MULTIVISION INTELLIGENT SURVEILLANCE LIMITED

ESTABLISHMENT OF MULTIVISION INTELLIGENT SURVEILLANCE AUSTRALIA PTY LTD

The Board of Directors of MultiVision Intelligent Surveillance Limited (the "Company") wishes to announce that MultiVision Intelligent Surveillance (Hong Kong) Limited ("MVIS(HK)"), a wholly-owned subsidiary of the Company, has entered into a joint-venture agreement with Sentry International Pty Ltd to establish a joint-venture company in Australia. MultiVision Intelligent Surveillance Australia Pty Ltd ("MVIS Australia") was incorporated on 1 March 2004. MVIS Australia is principally engaged in the sale and support of security systems developed by MVIS(HK) in Australia, New Zealand, Africa and other markets in which MVIS(HK) is not currently present.

MVIS(HK) holds 55 ordinary shares of A$1.00 each, representing 55% of the issued and paid-up share capital of MVIS Australia. The remaining 45 shares in MVIS Australia are held by Sentry International Pty Ltd.

The incorporation of MVIS Australia is not expected to have any material effect on the net tangible earnings per share or the earnings per share of the Company for the financial year ending 31 March 2004.

As far as the Directors are aware, none of the Directors or Controlling Shareholders (as defined in the Listing Manual of the SGX-ST) of the Company has any interest, direct or indirect, in the aforesaid transaction.

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