Completion Of Sale And Purchase Agreement In Relation To The Acquisition Of Factory Premises In Johor

The Board of Directors of Sunningdale Precision Industries Ltd (the "Company") is pleased to announce that the conditional sale and purchase agreement dated 5 May 2003 with Weltech Industries Pte Ltd (the "Vendor"), pursuant to which the Company will acquire the factory premises located at 34 Jalan Masyhur 1, Taman Perindustrian Cemerlang, 80800 Ulu Tiram, Johor Bahru, Malaysia from the Vendor for a consideration of RM 4.0 million (the "Consideration"), has been completed on 10 May 2004 (the "Acquisition").

As stipulated in the Company's Prospectus dated 22 July 2003, the Company has used approximately S$0.70 million of the IPO proceeds to fund the Acquisition as well as the expenses and stamp fees related to the Acquisition. The balance of the Consideration will be funded by bank loans

By Order of the Board
Soh Hui Ling
Secretary