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Incorporation Of Wholly-Owned Subsidiary

The Board of Directors of HLN Technologies Corporation Limited ("the Company") wishes to announce that its wholly-owned subsidiary, HLN Micron Pte. Ltd., has incorporated a wholly-owned subsidiary, HLN Metal Centre Pte. Ltd. ("HLN Metal") in Singapore.

The initial paid-up capital of HLN Metal is S$2 and the principal activity of HLN Metal is manufacturing of metal components, including customized material machining and cutting of metal products and components and investment holding. The purpose of incorporating HLN Metal is to augment the Group's foray into the complementary metallic material under the Metallic SBU.

The investment by the Company 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 2006.

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

THE INITIAL PUBLIC OFFERING OF THE SHARES OF HLN TECHNOLOGIES LIMITED WAS SPONSORED BY WESTCOMB CAPITAL PTE LTD ("THE MANAGER"). THE MANAGER ASSUMES NO RESPONSIBILITY FOR THE CONTENTS OF THIS ANNOUNCEMENT.