Press Release

Kuala Lumpur – DVM Technology Berhad, a comprehensive systems and solutions provider, today held the balloting for its shares at Bangunan MIDF, Jalan Tun Razak. The 4 million shares on offer to the public at an offer price of RM0.40 per share were 90.3 times oversubscribed. The IPO consisted of 40 million shares in total issued at RM0.40 per share with 8 million shares available to DVM employees and 28 million shares available for placement to selected investors.

The DVM Group was founded by Dato K S Goh in 1997, as ET Communications Sdn Bhd, a telecommunications, data communication and computer network solutions provider. Since then, the Group has expanded and the core activities include the provision of specialized telecommunication, data communication and computer network solutions, provision of specialized systems integration solutions, development of open sourced software development, development of next generation communication software applications and other related professional services.

The DVM group posted a pre-tax profit of RM4.2 million on a turnover of 23 million for the financial year ended 30 September 2002. For the 9-month period ended 30 June 2003, the Group registered a pre-tax profit of approximately of RM2 million on a turnover of RM34.5 million.

The IPO will raise RM16 million for the Group which will be utilized for Branding & Promotion, Project financing, Working Capital and R & D.

DVM Technology now looks ahead to its listing on the MESDAQ market of the KLSE on 2nd January 2004 and to develop its plans to be a leading regional communication software developer and implementer in the Next Generation Communications Arena.

The Adviser and Managing Underwriter for this Public Issue exercise is Public Merchant Bank Berhad.