?         Public offer tranche approximately 207.7 times subscribed

?         Total Invitation is approximately 22.5 times subscribed

?         Over 9,500 applicants put in more than S$131 million to apply for Public Offer Shares

?         Strong institutional interest with Credit Agricole Asset Management Singapore Limited, Phillip Capital Management (S) Ltd and Pinnakell Asset Management Pte Ltd subscribing in total for 15.5% of the Invitation Shares

SINGAPORE - 25 JUNE 2003 - Radiance Electronics Limited ("Radiance"), a PRC-based Electronics Manufacturing Services ("EMS") provider to the satellite communications industry is pleased to announce that the retail tranche for its initial public offering (the "Invitation") is approximately 207.7 times subscribed. The total Invitation is approximately 22.5 times subscribed.

Three asset management firms -- Credit Agricole Asset Management Singapore Limited, Phillip Capital Management (S) Ltd and Pinnakell Asset Management Pte Ltd - have in total subscribed for 4.5 million placement shares, which in aggregate account for approximately 15.5% of the total Invitation shares of 29 million shares offered.

The 29 million Invitation shares, priced at $0.21 each, comprised two tranches - a public tranche of 3,000,000 offer shares, and a placement tranche of 26,000,000 placement shares (inclusive of 1,500,000 reserved shares.)

A total of 9,514 valid applications for an aggregate of 626,081,000 offer shares, were received for the 3,000,000 offer shares available to the public. 15,000 placement shares in respect of invalid placement shares applications were made available to satisfy excess applications for offer shares. Application monies received from the public amounted to approximately $ 131.5 million. All 1,500,000 reserved shares were fully taken up by the management, employees, business associates and persons who have contributed to the success of the Group.

The Invitation shares represent approximately 15.2% of Radiance's enlarged issued and paid up capital of 190,624,000 shares of $0.125 par value each. Upon its listing on the SGX-SESDAQ, Radiance's shares will be traded in board lots of 1,000 shares. Trading on a "ready" basis is expected to commence on 26 June 2003.

The IPO will raise net proceeds of approximately $4.8 million, of which about $2.5 million will be used to build a new manufacturing plant in Shenzhen, PRC while the remaining $2.3 million will be used as additional working capital and/or business expansion through investments, joint ventures and/or acquisition of related business and technologies.

"We are very encouraged with the positive response shown by investors and we would like to thank them for their interest and support. With our growth strategies in place, we believe the prospects for our company are bright as we intend to take this opportune time to diversify our EMS operations into other niche markets." said Mr Henry Goh, Chief Executive Officer of Radiance Electronics Limited.

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

About Radiance Electronics Limited 

Radiance is a specialist provider of 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's 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 manufacturing facilities in Shanghai, PRC operated through its subsidiary Radiance Electronics (Shanghai) Co., Ltd ("Radiance Shanghai") has been awarded ISO 9002 and QS 9000 certifications and enjoys good rapport with the local PRC authorities. Radiance Shanghai has 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 and was ranked amongst the Top 500 Enterprises in Shanghai, PRC based on annual sales revenue for five consecutive years since 1997. 

end