Clarification Of Press Release On 04 September 2003

The Directors of HG Metal Manufacturing Limited ("The Company") wishes to inform that Announcement no.48 made on 04 September 2003 we had inadvertently mentioned that the Company has received in-principle approval from the Singapore Exchange Securities Trading Limited (the "SGX-ST") to list 6,000,000 new shares on the SESDAQ of the SGX-ST. We wish to clarify that we have not yet received in-principle approval from the SGX-ST to list the new shares.