Singapore 6 November 2001 – IPC Corporation Ltd ("IPC") is pleased to announce that Shen Yang Credit Information Holdings Co. Ltd, China, ("Shen Yang Information") has subscribed to e-IPC's City Credit Management Center ("CCMC") service for the city of Shen Yang, China. Shen Yang Information is a member of the Shen Yang Science & Technology Commission and a government agency.

The aim of the Shen Yang city government is to raise the level of sophistication in the financial, business and commercial communities in terms of the availability of strategic corporate and business information.

To fulfill these objectives, the city government has tasked Shen Yang Information to organize, deploy and operate state-of-the-art business and credit information services through strategic collaboration with e-IPC's CCMC.

Shen Yang becomes the first city in China to subscribe to the CCMC's services after the project was initiated nine months ago by e-IPC.

The CCMC offers crucial business and credit information services for Chinese companies to evaluate potential strategic business partners. The CCMC is a strategic hub offering e-service technology and e-platform product suites of e-IPC (China) Ltd. e-IPC is headquartered in Shanghai, China, and is a wholly owned subsidiary of IPC.

The strategic spectrum of information and services offered by CCMC include:

Corporate data - inclusive of capital & shareholding structure, principal business activities, board and management members
Financials - latest balance sheet and profit/loss accounts
Major trading partners
Assessment on credit risks

Mr. Zhong Zhao Min, Chairman of the Board, Shen Yang Information, said: "We are pleased to enter into this agreement with e-IPC as the CCMC service will play an important role in Shen Yang's business community. It will provide reliable credit information to companies seeking to do business in Shen Yang."

e-IPC President Jiang You added: "This contract marks a significant milestone that will enable credit information on companies in China to be made available on-line through the CCMC spectrum of services.

"The CCMC can accentuate business deals by minimizing business risks for individuals, companies and enterprises by providing trusted credit information on their potential business partners in China."

Under the terms of the contract, Shen Yang Information will pay e-IPC approximately RMB 5 million (equivalent to around S$1 million) for subscribing to CCMC's e-service technology and e-platform product suites. Shen Yang Information is scheduled to commence offering the CCMC services in Q2 of 2002.

It is the objective of e-IPC to deploy its CCMC services in major Chinese cities over the next three to five years. The deployment will be implemented through licensing and franchising arrangements with major operators in the various major cities.

IPC Chairman and CEO Patrick Ngiam said: "Once the CCMC service is fully implemented in each of the major cities, credit information on companies is captured and stored in e-IPC's data centre. The trusted data and information can be accessed on-line locally, regionally and globally by companies and individuals intending to spearhead their businesses in China."

The above contract will have a positive impact on the net tangible assets and earnings per share of the Group for the financial year ending 31 December 2002.

About IPC
Listed on the main board of the Singapore Exchange (SGX), IPC Corporation Ltd (IPC) is an established player in Infocomm technology, e-Services and e-Platform solutions, with a marketing and sales distribution network in more than 50 countries worldwide.

Three Core Business Units
IPC drives three core business units:
e-Services & e-Platform Provider
Thin Computing
Infocomm Product Distribution/Systems Integration – broadband services

*For more information, please visit our website at www.ipc.com.sg

e-Services & e-Platform Solution For B2B & B2C e-Commerce Transactions
e-IPC, a wholly owned subsidiary of IPC, is a leading Internet infrastructure provider of e-Services and e-Platform for B2B and B2C transactions. e-IPC's value proposition is the full service provision of On-line Exchange (OLX) and On-line Applications (OLA). Since 1996, e-IPC has been operating a premier network in China offering OLX and OLA e-Services to major enterprises in the retail industry in Shanghai.

*For more information, please visit our website at www.e-ipc.com.cn

OLX
OLX enables and facilitates the entire fulfillment cycle in the supply chain from inquiry to ordering to electronic processing and payment.

OLA
OLA is an on-line access platform to mission critical software applications to fulfill administrative and operational requirements such as data warehousing, data mining and data analysis, enterprise resource planning and customer relationship management.

Thin Computing
Austin Federation (S) Pte Ltd, a fully owned subsidiary of IPC Corporation Ltd, has developed a premium suite of cost effective thin computing solutions that significantly reduce the Total Cost of Ownership (TCO). These solutions marketed under the brand names "Buddy" and "BeTwin" address the pervasive computing needs of individuals and organisations in the characteristically dynamic computing and communications environment. The competitive efficiency of the solution is attributed to its ability to link multiple users to a single host computer with uncompromised computing power as well as concurrent Internet usage.

WinConnect is the latest addition to its premium suite of thin computing solution offerings.

*For more information, please visit our website at www.austin.com.sg

Infocomm Product Distribution/ Systems Integration- Broadband Services
Essex Electronics (S) Pte Ltd (Essex) is a wholly owned subsidiary of IPC and is a premier provider of leading-edge telecommunications solutions as well as the provision of systems integration services and support for broadband communications. Through its two main divisions, Essex offers a suite of Digital Enhanced Cordless Telecommunications wireless communications range of terminals and in-premise Wireless Local Loop solutions as well as Integrated Services Digital Network terminals. It also provides broadband systems integration service and support to major telecommunications, cable operators and hotels.

*For more information please visit our website www.essex.com.sg

Submitted by Bernard Ngiam, Executive Director/Company Secretary on 06/11/2001 to the SGX