Aug 20, 2003

The Board of Directors is pleased to announce that Sinomem Technology Limited (the "Company") has been granted a waiver from the Singapore Exchange Securities Trading Limited ("SGX-ST") from complying with Rule 705(2)(a) with regard to the announcement of the Company's second quarter financial statements, in accordance with Rule 107 of the Listing Manual. The waiver application was sought because of the timing of the Company's listing on SGX-ST on 18 June 2003 and the 1Q03 results were not announced. The Company is of the view that the announcement of 1H03 results would be more meaningful.

The Company will announce its half year results for the period ended 30 June 2003 before 29 August 2003, and will announce its results on a quarterly basis in accordance with Rule 705(2)(a) of the Listing Manual, from the third quarter of FY2003 onwards.