Proposed Private Placement Of 6, 000, 000 New Ordinary Shares Of S$0.20 Each In The Capital Of HG Metal Manufacturing Limited (The "Private Placement")

Further to the announcement on 4 September 2003 in relation to the proposed placement (the "Placement") of 6,000,000 new ordinary shares of S$0.20 each (the "New Shares") in the capital of HG Metal Manufacturing Limited (the "Company"), the Board of Directors of the Company wishes to announce that the Singapore Exchange Securities Trading Limited (the "SGX-ST") has granted approval-in-principle for the listing and quotation on the SGX-ST Dealing and Automated Quotation System of the New Shares to be issued pursuant to the Placement.

It should be noted that the in-principle approval of the SGX-ST is not an indication of the merits of the Placement, the Company or the New Shares.

BY ORDER OF THE BOARD
HG METAL MANUFACTURING LIMITED

WEE PIEW
CHIEF EXECUTIVE OFFI CER