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SGX Query Regarding Trading Activity

BackDec 17, 2010
Title SGX QUERY REGARDING TRADING ACTIVITY
Subject Of Query On Other Announcements
Description HLN Technologies Limited (the "Company") refers to the query on 17 December 2010 from Singapore Exchange Securities Trading Limited (the "SGX-ST") regarding the trading activity of the Company's shares and wishes to respond as follows:

Question 1: Are you aware of any information not previously announced concerning you (the issuer), your subsidiaries or associated companies which, if known, might explain the trading?
- If yes, the information must be announced immediately.

The Company is in advanced confidential discussions to execute a term sheet (the "Term Sheet") in respect of a possible acquisition of a minority stake in a property development company in the PRC. At the current time, the Term Sheet has not been executed by all parties. The Company will make the appropriate announcement once the Term Sheet is executed. Shareholders should also note that the Term Sheet, when executed, is not legally binding, save for certain provisions such as exclusivity and confidentiality. The material terms of the Term Sheet will be disclosed in the relevant announcement.

Question 2: Are you aware of any other possible explanation for the trading?

Other than as stated in Paragraph 1 above, the Company is not aware of any other possible explanation for the trading.

Question 3: Can you confirm your compliance with the listing rules and, in particular, listing rule 703?

The Company confirms that it is in compliance with the listing rules of SGX-ST, in particular, Rule 703 regarding disclosure of material information.