The Board of Directors of Beyonics Technology Limited ("Beyonics" or the "Company") wishes to announce that Beyonics International Limited ("BIL"), a wholly owned subsidiary of Beyonics, has entered into an amended and restated supply agreement as of 14 March 2003 with Seagate Technology International ("Seagate Technology") which was executed by the parties in May 2003 (the "Amended Supply Agreement"), pursuant to which BIL will supply printed circuit board assemblies ("PCBAs") to Seagate Technology.

BIL and Seagate Technology are parties to a Supply Agreement dated 1 June 2001 ("Original Supply Agreement"). The Amended Supply Agreement amends, restates and supersedes the Original Supply Agreement, which would have run to 28 June, 2003.

The duration of the Amended Supply Agreement will be for a term of two years commencing with effect from 1 January 2003 unless sooner terminated under the terms of the Amended Supply Agreement. The Amended Supply Agreement may be renewed upon the written mutual consent of both parties.

Based on, inter alia, the terms of the Amended Supply Agreement (including the minimum number of PCBA units to be supplied and the value-added price of each product) and current raw material prices, the contract value of the Amended Supply Agreement is estimated to amount to approximately S$300 million gross turnover ("Contract Value"). However, management of the Company is unable to provide full assurance that this estimated Contract Value would materialize, as turnover may be affected by unforeseen circumstances that may arise from certain factors, including without limitation, variations in Seagate Technology's customers' demand of products, availability of components, design changes, changes in product mix, changes in product pricing, product quality, labour issues, and BIL's timely delivery of products and components.

The Amended Supply Agreement is not expected to have any material impact on the net tangible assets or earnings per share of the Company for the current financial year.

None of the Directors or substantial shareholders of the Company has any interest, direct or indirect in the Amended Supply Agreement.

The Directors of the Company (including any who may have delegated detailed supervision of this Announcement) have taken all reasonable care to ensure that the facts and opinions stated in this Announcement are fair and accurate and that no material facts have been omitted and they jointly and severally accept responsibility accordingly. Where any information has been reproduced from published or publicly available sources, the sole responsibility of the Directors of the Company has been to ensure through reasonable enquiries that such information is accurately reflected or reproduced in this Announcement.

By Order of the Board
Submitted by Tay Peng Huat, Company Secretary on 20/05/2003 to the SGX