Dec 23, 2008

The Board of Directors of Sinomem Technology Limited (the 'Company') wishes to announce that the Company has entered into an agreement to purchase SGD 30,000,000.00 face value of zero coupon Convertible Bonds Due 2011 with an aggregate purchase price of SGD 27,000,000 (the "Transaction"). The SGD 30,000,000.00 face value of zero coupon Convertible Bonds Due 2011 is part of the SGD 80,000,000.00 zero coupon Convertible Bonds Due 2011 issued by the Company in December 2006. The closing date of the purchase is 24 December 2008.

The Transaction will be completed on 24 December 2008.

The consideration for the Transaction will be funded through internal sources.

None of the Directors or controlling shareholders of the Company have any interest, direct or indirect in the Transaction.


By Order of the Board
Dr Lan Weiguang
Managing Director
23 December 2008