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Incorporation Of Wholly-Owned Subsidiary

The Board of Directors of HLN Technologies Limited ("the Company") wishes to announce that the Company is planning to expand its core business activities to include the provision of fund management, stock broking and general consultancy services. The Company will be seeking shareholders approval in connection with the proposed expansion of business. It is currently in the process of the preparing the shareholders circular which is necessary for convening a general meeting. As a preparatory step to facilitate the organisation of the proposed new business in future, a new company known as "Sheung Ho (Singapore) Pte Ltd" ("Sheung Ho (Singapore)") has been incorporated in Singapore on 14 August 2009 as a wholly owned subsidiary of the Company. This subsidiary is intended to serve as the holding company for other future subsidiaries to be incorporated to carry out the proposed new business.

The issued and paid up capital on incorporation of Sheung Ho (Singapore) is SGD 2.00 and the principal activity is investment holding. The incorporation of Sheung Ho (Singapore) 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 2009.

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


By order of the Board


Cheong Weixiong
Group Chief Executive Officer