Resignation Of Director/Audit Committee

The Board of Directors of HG Metal Manufacturing Ltd (the "Company") wishes to announce the resignation of Mr. Teo Kiang Kok as Independent Director of the Company with effect from 15 December 2003.

With Mr. Teo's resignation, he ceased to be a member of the Audit Committee.

The Board of Directors wishes to express its deep appreciation to Mr. Teo Kiang Kok for his invaluable contribution to the Company.

Information relating to the appointment of his replacement as Independent Director and Audit Committee member will be announced separately.