Kingsmen�s Public Offer Is 242.6 Times Subscribed

Sep 18, 2003

Singapore, September 18, 2003 - Kingsmen Creatives Ltd. ("Kingsmen"), a three-dimensional communications design and production group in the Asia Pacific region, today announced that its public offer tranche of 3,015,000 shares (comprising 3,000,000 Offer Shares and 15,000 Placement Shares in respect of invalid applications) has been 242.6 times subscribed.

At the close of the offer at 12 noon yesterday (September 17, 2003), 11,990 valid applications were received for the shares available to the public for subscription. In total, these subscribers applied for 731,306,000 Offer Shares, with application monies received amounting to approximately S$219.4 million.

In connection with its listing on the SGX-ST Dealing and Automated Quotation System (the "SGX Sesdaq"), Kingsmen offered 20 million New Shares, at an issue price of S$0.30 per share. The Invitation, which constituted 20% of Kingsmen's enlarged share capital, was structured as follows:

 -                     3,000,000 Offer Shares by way of public offer; and

-                     17,000,000 Placement Shares by way of placement comprising:

-                     15.5 million Placement Shares;

-                     1.5 million Reserved Shares for management, non-Executive Directors, employees and others who have contributed to the Group's success.

Based on the total invitation size of 20 million shares and total valid applications received (excluding the 150,000 Reserved Shares taken up by non-Executive Directors and 200,000 Placement Shares by UOB), the invitation is approximately 37.4 times subscribed.

Said Mr Benedict Soh, Group Managing Director of Kingsmen: "We are very encouraged by the enthusiastic response to our IPO which shows investors' confidence and belief in Kingsmen's potential to grow regionally."

"This listing is a significant milestone for our Group and will help to further raise the profile of Kingsmen. With the new funds, we are able to expand our production capabilities and regional network to deepen our market penetration in the Asia Pacific region. As a one-stop-shop solutions provider, we will continue to broaden our range of services so that our clients can benefit from convenience and cost savings. We believe we have the infrastructure, experience, and most importantly, the people with the right mindset to spur our Group into the next phase of growth."

Kingsmen intends to use the estimated net proceeds of S$4.7 million from its IPO as follows:

-                     approximately S$2.0 million for carrying out regional expansion plans;

-                     approximately S$1.0 million for acquiring new machines, equipment and systems for production facilities in Singapore;

-                     approximately S$0.6 million for acquiring new machines, equipment and systems for production facilities in Malaysia; and

-                     the balance for working capital.

Trading of the shares is expected to commence on September 19, 2003 at 9.00 am.

About Kingsmen Creatives Ltd.

Corporate Profile:

Established in 1976, Kingsmen offers a "one-stop-shop" solution through a vertical and horizontal integration of their services, giving their clients the benefits of convenience and cost savings. The Group designs and produces exhibits for events, tradeshows and even museums and visitor centres. Kingsmen is also reputed for quality interior design works, and has carved a niche in the mid to up-market retail sector. To provide value-added services to clients, the Group offers integrated marketing communications services, enabling Kingsmen to function as a one-stop-shop solutions provider.

Kingsmen has an extensive regional network with offices in 15 major cities across the Asia Pacific and Middle East regions through its affiliates. Leveraging on its regional network and global connections, Kingsmen offers "roll-out management" interior services to achieve brand consistency for clients across different countries. Burberry and UOB are two successful "roll-out management" projects.

The Group has a long-standing base of clients from diverse industries including well-known names such as Robinson & Co (S) Pte Ltd, DFS Venture Singapore (Pte) Limited, the Dickson Group, FJ Benjamin Holdings Ltd, Burberry Asia Ltd, Asian Aerospace Pte Ltd and Reed Exhibitions Pte Ltd. Its clients also enjoy overseas support from Kingsmen through its regional network and global connections.

Financials:

For the last financial year ended FY2002, Kingsmen recorded a net profit of S$3.3 million on revenue of S$60.8 million, of which 55% was from repeat customers. From January 1, 2003 to August 7, 2003, the Group has confirmed orders of S$36.9 million.