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News

Acquisition Of Contract

The Board of Directors of HLN Technologies Limited ("the Company") is pleased to announce that its wholly-owned subsidiary, HLN Rubber Products Pte Ltd has been awarded a contract by Brembo S.p.A. for the supply of rubber components of value amounting to not less than Euro 1,533,593 for delivery in 2006 and 2007.

The contract, if scheduled delivery equally over 2 years, is expected to contribute some S$1.5 million per annum to the Group's revenue in FY2006 and FY2007 respectively. S$1.5 million is approximately 10% of the Group's FY2005 revenue of S$14.1 million. It is also expected to have a positive impact on the Group's results in 2006 and 2007.

None of the Directors has any direct or indirect interest in the above contract. The Directors are not aware of any substantial shareholders having any direct or indirect interest in the above contract and have not received any notification of interest in the contract from any substantial shareholders.

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.