Books Closure Date

BONUS ISSUE OF 22,832,500 NEW ORDINARY SHARES OF S$0.20 EACH IN THE CAPITAL OF HG METAL MANUFACTURING LIMITED (THE "COMPANY') ON THE BASIS OF ONE NEW ORDINARY SHARE FOR EVERY FOUR EXISTING ORDINARY SHARES OF S$0.20 EACH (THE "SHARES") HELD

On 30 December 2003, the Company announced that its Board of Directors had proposed a bonus issue (the "Bonus Issue") of 22,832,500 new ordinary shares of S$0.20 each (the "Bonus Shares") on the basis of one new ordinary share of S$0.20 each (the "Shares") credited as fully paid for every four existing Shares held in the capital of the Company. Fractional entitlements will not be allotted but will be disposed of in such manner as the Directors in their absolute discretion deem fit for the benefit of the Company. The Bonus Shares will be issued pursuant to a general mandate obtained at the Annual General Meeting of the Company held on 28 March 2003 which allows the Company's directors to issue Shares in the Company aggregating up to fifty (50) per cent of the Company's issued share capital for the time being.

The Board of Directors of the Company is pleased to announce that the Singapore Exchange Securities Trading Limited (the "SGX-ST") had on 18 February 2004, granted its in-principle approval for the Bonus Issue and the listing and quotation of the Bonus Shares. The in-principle approval from the SGX-ST is not an indication of the merits of the Bonus Issue.

NOTICE OF CLOSURE OF THE SHARE TRANSFER BOOKS AND REGISTER OF MEMBERS OF THE COMPANY

NOTICE IS HEREBY GIVEN that the Share Transfer Books and Register of Members of the Company will be closed from 5.00 pm on 3 March 2004 up to and including 4 March 2004, for the purpose of determining members' entitlements under the Bonus Issue.

Duly completed and stamped transfer forms received by the Company's share registrar M&C Services Private Limited of 138 Robinson Road #17-00, The Corporate Office, Singapore 068906, not later than 5.00 pm on 3 March 2004 will be registered on the same day to determine members' entitlement to the Bonus Issue. Members whose securities accounts with The Central Depository (Pte) Limited are credited with Shares at or before 5.00 pm on 3 March 2004 will also be entitled to the Bonus Issue.

By Order of the Board
HG Metal Manufacturing Limited


Foong Lee Heng, Jasmine
Company Secretary
18 February 2004