FDS Networks Group Ltd

(Incorporated in Bermuda on 19 January 2000)

Invitation in respect of 19,000,000 New Shares of US$0.05 each comprising:-

(a) 5,000,000 Offer Shares at S$0.65 each by way of public offer; and

(b) 14,000,000 Placement Shares by way of placement, comprising:-

(i) 1,900,000 Reserved Shares at S$0.65 each reserved for the management, employees, independent directors and business associates of the Group; and

(ii) 12,100,000 Placement Shares at S$0.65 each, payable in full on application

The Board of Directors of FDS Networks Group Ltd ("FDS" or the "Company") is pleased to announce that, at the close of the Application List at 12.00 noon on 3 July 2000, there were 18,126 applications for the 5,000,000 Offer Shares available to the public for subscription. In total, these applicants applied for 240,002,000 Offer Shares, with application moneys received amounting to approximately S$156 million.

Based on the 5,000,000 Offer Shares available to the public for subscription, the offer to the public is approximately 48 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:-

The 12,100,000 Placement Shares have been successfully subscribed for. The spread of placees is as follows:-

The 1,900,000 Reserved Shares have been fully taken up by employees and business associates of the Group, and those who have contributed to the success of the Group. The spread of the Reserved Shares is as follows:-

The Shares will commence trading on a "ready" basis on 5 July 2000. 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 or other benefit arising therefrom), will commence today and is expected to be completed by 7 July 2000. For unsuccessful Electronic Applications, it is expected that the full amount of the application moneys (without interest or any share of revenue or other benefit arising therefrom) will be credited to the applicants' accounts with their Participating Banks (as defined in the Prospectus dated 22 June 2000) within three market days after the close of the Application List.

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 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 through the crediting of the relevant amount to the applicants' accounts with their Participating Banks (in the case of Electronic Applications), within 14 days after the close of the Application List.

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.

DBS Bank and POSBank customers may call the DBS IPO Results Enquiry Service at 327 4767 to check the provisional results of their IPO applications. Customers will be required to enter their CDP Securities Account Number when utilising the automated service.

Issued by
The Development Bank of Singapore Ltd

For and on behalf of
FDS Networks Group Ltd.