5 Jan 2006

Increase in Paid-up Capital of Subsidiary

The Board of Directors of Excelpoint Technology Ltd ("the Company") is pleased to announce that its wholly-owned subsidiary, Excelpoint Systems (Pte) Ltd ("ESPL") had on 30 December 2005, increased its paid-up capital from S$4 million to S$6 million via the issue and allotment of 2 million ordinary shares of S$1.00 each to the Company, for a cash consideration of S$2 million.

The above transaction is not expected to have any material impact on the net tangible assets and earnings per share of the Group for the financial year ended 31 December 2005.

None of the directors or substantial shareholders of the Company has any interest, direct or indirect, in the above transaction.

BY ORDER OF THE BOARD

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