MEDTECS INTERNATIONAL CORPORATION LIMITED

INVITATION IN RESPECT OF 45,000,000 NEW SHARES OF US$0.05 EACH COMPRISING:-

(1) 18,000,000 OFFER SHARES AT S$0.306 FOR EACH OFFER SHARE BY WAY OF PUBLIC OFFER; AND
(2) 27,000,000 PLACEMENT SHARES BY WAY OF PLACEMENT, COMPRISING:-
  (i)A MINIMUM OF 18,000,000 PLACEMENT SHARES AT US$0.18 FOR EACH PLACEMENT SHARE; AND
  (ii)UP TO 9,000,000 RESERVED SHARES AT US$0.18 FOR EACH SHARE RESERVED FOR EMPLOYEES, DIRECTORS AND BUSINESS ASSOCIATES OF THE GROUP, INCLUDING:-
    (a)50,000 RESERVED SHARES FOR A NON-EXECUTIVE DIRECTOR; AND
    (b)50,000 RESERVED SHARES FOR AN INDEPENDENT DIRECTOR,

PAYABLE IN FULL ON APPLICATION

The Board of Directors of Medtecs International Corporation Limited (the "Company") is pleased to announce that, at the close of the Application List at 12.00 noon on 4 October 1999, there were 38,496 applications for the Offer Shares available to the public for subscription. In total, these applicants applied for 467,642,000 Offer Shares, with application moneys received amounting to approximately S$143.10 million.

Based on the 18,000,000 Offer Shares, the offer to the public was approximately 26 times subscribed.

To ensure a reasonable spread of shareholders of the Company, the Board of Directors of the Company has decided on the following basis of allotment:-

Of the 18,000,000 Placement Shares, 17,992,000 Placement Shares have been successfully subscribed for. Accordingly, the balance of 8,000 Placement Shares resulting from invalid applications were included as Offer Shares for subscription by the public. The spread of placees is as follows:-

The 9,000,000 Reserved Shares were fully taken up by the employees, directors and business associates of the Group. The spread of Reserved Shares applicants is as follows:-

The Shares will commence trading on a "ready" basis on 6 October 1999. There will be NO trading on a "when issued" basis.

The return of unsuccessful applications using printed Application Forms by ordinary post at the risk of the unsuccessful applicants, together with the full amount of the application moneys (without interest or any share of revenue earned or other benefit arising therefrom), will commence today and is expected to be completed by 8 October 1999. For unsuccessful Electronic Applications, it is expected that the full amount of the application moneys (without interest or any share of revenue earned or other benefit arising therefrom) will be credited to the applicants' accounts with their Participating Banks (as defined in the Prospectus dated 22 September 1999) within three market days after the close of the Application List on 4 October 1999.

In respect of partially successful applications, the balance of the application moneys is expected to be refunded (without any interest or any share of revenue earned or other benefit arising therefrom) to the applicants, by ordinary post at their own risk (in the case of applications made using printed Application Forms) or by being automatically credited to the applicants' accounts with their Participating Banks (in the case of Electronic Applications), within 14 days after the close of the Application List on 4 October 1999.

The Company wishes to thank the public who have applied for the Offer Shares and the Placement Shares, the relevant authorities and all who have helped in one way or another in the Company's initial public offering, for their support and assistance.

Issued by
The Development Bank of Singapore Ltd

For and on behalf of
Medtecs International Corporation Limited