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News

Incorporation Of Wholly-Owned Subsidiary

The Board of Directors of HLN Technologies Limited ("the Company") wishes to announce that its 100% owned subsidiary, Process Innovation Technology Pte. Ltd., has incorporated a wholly-owned subsidiary, Process Innovation Technology (Suzhou) Co., Ltd ("Process Innovation Technology (Suzhou)") in Suzhou, China.

The registered capital of Process Innovation Technology (Suzhou) is USD 700,000 and the principal activity of Process Innovation Technology (Suzhou) is die-cutting, fabricating and converting of polymeric products. The purpose of incorporating Process Innovation Technology (Suzhou) is to support its customers based in China as well as to expand its geographical business presence.

The investment by the Company will be financed from the Company's share placement proceeds completed on 8 September 2008.

The investment is not expected to have any material effect on the earnings per share or net tangible assets per share of the Group for the year ending 31 December 2008.

No director or substantial shareholder of the Company has an interest, direct or indirect, in the investment.

By order of the Board



Wa Kok Liang
Executive Director