SINWA LIMITED – ANNOUNCEMENT ON CHANGE OF DIRECTORS AND CHANGE IN THE COMPOSITION OF THE AUDIT COMMITTEE

The Board of Directors of Sinwa Limited wishes to announce the resignation of Mr Tan Kim Seng as a Director of the Company on 26 October 2004. With Mr Tan's resignation, he will cease to be a member of the Audit Committee of the Company with effect from 26 October 2004.

The Board of Directors is also pleased to announce the appointment of Mr Tan Chong Huat as an Independent Director of the Company and a member of the Audit Committee on 26 October 2004. The information relating to the appointment of Mr Tan Chong Huat as a Director will be announced separately.

With the above changes, the Audit Committee will now comprise the following Directors:

Mr Heng Lee Seng (Chairman)
Mr Lim Ho Seng (Member)
Mr Tan Chong Huat (Member)

The Board of Directors would like to express their appreciation to Mr Tan Kim Seng for his contribution to the Company during his term of office.