FOR IMMEDIATE RELEASE

MULTIVISION INTELLIGENT SURVEILLANCE LIMITED ANNOUNCES
THIRD QUARTER 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 third quarter ended December 31, 2002.

Key Points

• Turnover of HK$23.3m, up from HK$1.664m during the third quarter of FY 2002
• Net earnings of HK$6.027m, against net loss of HK$2.91m during the third quarter of FY 2002
• Earnings per share of HK$0.17
• Since December 31, 2002, MultiVision has
  - secured more digital video surveillance contracts worldwide, including a pilot casino project in Macau
  - continued to pursue opportunities in other key business segments, such as the public transport market in Singapore and the medical market in the USA
  - continued to develop new, innovative products, such as the healthcare prototype unit
  - established sales offices in Singapore, the PRC, Macau and the USA

Strategy

• To cement its edge in the highly-competitive market, MultiVision will continue to provide high-end enterprise and customised solutions for customers and focus on research and development as well as other investment efforts so as to ensure the continuous roll-out of new, technologically-advanced products.

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

"Despite the competitive environment, we were able to achieve a significant improvement in our turnover and net earnings during the third quarter due to continued strong demand for our products and solutions. As we persist with our efforts to develop new products and enhance existing ones, we hope to continue posting growth exceeding the industry average over the coming quarters. Based on current business trends, we expect the current quarter's performance to improve over the previous quarter, and are optimistic of stronger fiscal year 2003 results compared to the previous year's."

Enquiries:

MultiVision Intelligent Surveillance Limited: +65 6327 5461
Tan Siang Peng : tan_siangpeng@multivision.com.hk

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

About MultiVision (Reuters: MVIS.SI; Bloomberg: MVIS SP Equity)

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, OEMs 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, please see www.multivision.com.hk

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