Singapore - 13 June 2003 - Radiance Electronics Limited, a China-based Electronics Manufacturing Services ("EMS") provider to the satellite communications industry today, launched its initial public offer of 29,000,000 shares at S$0.21 each. The company will be listed on the Stock Exchange of Singapore Dealing and Automated Quotation System ("SGX-SESDAQ").

The shares on offer, represent 15.2 % of its enlarged share capital of 190,624,000 shares, including:

? 3,000,000 shares for public offer
? 24,500,000 shares for placement
? 1,500,000 reserved shares

The IPO will raise net proceeds of approximately S$4.8 million from a total gross amount of S$6.1 million.

? Approximately S$2.5 million will be used to build a new manufacturing plant in Shenzhen while

? the remainder will be used as additional working capital and/or business expansion through investments, joint ventures and/or acquisition of related business and technologies

Mr Henry Goh Boon Leng, Radiance Electronics Limited's Chief Executive Officer said, "Our public listing is a strategic move for the Company to enhance future growth prospects. Besides funding the Company's future expansion plans into new growth areas including telecommunications and medical, the listing will also play an instrumental role in creating a more prominent public profile."

"Radiance has been able to maintain our growth despite challenging economic conditions through our flexibility in producing a comprehensive range of products at different volumes to meet customers' specific needs. We will continue to strengthen our customers' relationship and position ourselves for the upturn." Mr Goh added.

SBI E2-Capital Pte Ltd is the manager for Radiance IPO. The joint placement agents and underwriters are SBI E2-Capital Securities Pte Ltd and UOB Kay Hian Private Limited. Kim Eng Ong Asia Securities Pte Ltd is the sub placement agent.

SBI E2-Capital Chief Executive Officer, Mr Choo Chee Kong said, "Locating its manufacturing activities in China provides Radiance with a key competitive advantage, which has translated to increasing profit margins over the last three years."

"Considering its track record, industry reputation and growth prospects, we believe it is attractively priced," he added.

The invitation, which opens on 13 June 2003, will close on 24 June 2003 at noon. Balloting of applications will take place on 25 June 2003 and trading on a "when issued" basis will commence on 26 June 2003. Radiance's shares when listed on SGX-SESDAQ will be traded in board lots of 1,000 shares.

At the issue price of $0.21 per share and the historical net earnings per share of the Group for FY2002 of 3.3 cents per share (based on pre-invitation issued share capital of 161,624,000 shares), the historical price earnings ratio was 6.4.

Established in 1996, Radiance's manufacturing facility is located in Waigaoqiao Free Trade Zone, Shanghai. The Company provides EMS to Original Equipment Manufacturer (OEMs) or Original Design Manufacturers (ODMs) of satellite communications and computer peripheral products.

About Radiance Electronics Limited

Radiance is a specialist providing electronics manufacturing services ("EMS") to customers who are OEMs or ODMs of products in the satellite communications and computer peripheral industries. Radiance provides Box Build and PCBA for Satellite Communications products such as Low Noise Block Converters (LNB) and Satellite Signal Distribution Equipment and accessories; and computer peripherals.

Radiance manufacturing facilities are based in low cost PRC, which improves their competitive pricing. To tap on the lower costs of land and labour and to broaden its customer base, Radiance plans to use part of the proceeds to set up a new manufacturing plant in Shenzhen, PRC to target customers in the computer peripherals industry.

As a quality testament, Radiance's plant in Shanghai, PRC has been awarded ISO 9002 and QS 9000 certification and enjoys good rapport with the local authority. They have also been awarded a Class A rating under the Customs Management Program by the Shanghai Customs Authority for their excellence in the customs compliance efforts. Radiance Shanghai was also awarded the High Technology Enterprise Award in 2001.

============================================================

IMPORTANT NOTICE

Potential investors are advised to refer to the Prospectus dated 12 June 2003 (the "Prospectus") for information on the IPO. Any investment decision potential investors may make should be based solely on the information set out in the Prospectus.

The Offering will close at 12 noon on 24 June 2003 and trading of the ordinary shares of par value S$0.125 each in the capital of Radiance on a "ready" basis is expected to commence 9:00 a.m. on 26 June 2003.

Copies of this Prospectus and the Application Forms and envelopes may be obtained on request, subject to availability, from:-

SBI E2-Capital Securities Pte Ltd
5 Shenton Way,
#09-08 UIC Building
Singapore 068808

and from members of the Association of Banks in Singapore and members of the Stock Exchange and merchant banks in Singapore.