| The Board of Directors of HLN Technologies Limited wishes to announce that HLN Micron Pte. Ltd., its wholly owned subsidiary, has entered into a non-binding Memorandum of Understanding ("MOU") with the shareholders of Promax Precision Engineering Pte Ltd ("Promax") with the intention to acquire a majority stake in Promax. Promax is in the business of manufacture and sale of precision machine tool accessories. Due diligence has started and will require several weeks to complete after which both parties will negotiate a binding Sales and Purchase Agreement. More details of the proposed transaction will be announced in due course. 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. |