Resolutions Passed At Extraordinary General Meeting

Pursuant to Clause 704(14) of the Listing Manual of the Singapore Exchange Securities Trading Limited, the Board of Directors of HG METAL MANUFACTURING LIMITED (the "Company") wishes to announce that the following resolutions put to the Extraordinary General Meeting of the Company held on 8 October 2003 were duly passed:-

ORDINARY RESOLUTIONS

1) General Mandate For Interested Persons Transactions

That :

(i) approval be and is hereby given for the purpose of Chapter 9 of the Listing Manual of the Singapore Exchange Securities Trading Limited for the Company, its subsidiaries and associated companies or any of them to enter into any of the transactions falling within the categories of the Interested Persons transactions as described in the Company's Circular to Shareholders dated 16 September 2003 (the "Circular") with any party, who falls within the class of interested persons referred to in the Circular, provided that such transactions are carried out in the normal course of business, at arm's length and on normal commercial terms and in accordance with the guidelines of the Company for the Interested Persons transactions as set out in the Circular;

(ii) such approval shall, unless revoked or varied by the Company in general meeting, continue to be in force until the next Annual General Meeting of the Company; and

(iii) the Directors be and are hereby authorised to complete and do all such acts and things (including executing all such documents as may be required) as they may consider expedient or necessary to give effect to this Ordinary Resolution.

2) Increase In Authorised Share Capital

That the authorised share capital of the Company be increased from $20,000,000 divided into 100,000,000 ordinary shares of $0.20 each (the "Shares") to $50,000,000 divided into 250,000,000 Shares by the creation of an additional 150,000,000 Shares and that such Shares shall rank pari passu with the existing Shares in the capital of the Company.

SPECIAL RESOLUTION
Amendments To Articles Of Association

It was resolved that the Articles of Association of the Company be altered in the manner as set out on pages 11 to 20 of the Circular.