Singapore, 9 September 2003 - IPC CORPORATION Ltd ('IPC' or the 'Group') today announced that Zhuhai Peking University Affiliated Campus School ('Zhuhai Peking School'), a newly established RMB180 million educational institution in Zhuhai, PRC, has purchased 40 luxury apartments from the Group's Phase-I launch of the Costa del Sol property project to serve as faculty housing.

IPC and Zhuhai Peking School ( http://zh.pkuedui.com ) have forged an alliance for Costa del Sol
( www.costadelsol.com.cn ) to be the exclusive residential hub for the school's faculty housing requirements.

The alliance is a boon for Costa del Sol property owners as their children are guaranteed a place in the premier school.

The Costa del Sol apartments, set in a resort-styled environment, will principally house the school's teaching staff. The initial purchase of 40 apartments represents the first phase of the Zhuhai Peking School's housing needs.

Additional Costa del Sol apartments will be purchased in pace with Zhuhai Peking School's expected increase in teaching staff; from about 200 currently to approximately 750.

The Zhuhai Peking School offers an unique integrated academic environment for primary, secondary and junior college education with a one teacher to four-student ratio. The Zhuhai Peking School has a planned maximum capacity of 3,000 students supported by about 750 university-trained teachers.

The school began its inaugural academic year in September 2003 with a student intake of 600 and teaching staff strength of about 200.

Zhuhai Peking School is affiliated to the leading academic institutions Beijing University, BeiDaQingNao Organisation, BeiDaZhiYuan Organisation and Beijing TianQiaoBeiDaQingNiao Technological Institution Pte Ltd.

Zhuhai Peking School is situated in a city that is rapidly becoming an oasis of quality education. Renowned colleges and universities that have established campuses in Zhuhai include Zhongshan University, Beijing Institute of Technology, Harbin Institute of Technology and Tsinghua University.

IPC Chairman and CEO Patrick Ngiam said: "The alliance forged with Zhuhai Peking School is testament of the quality residential environment Costa del Sol offers to discerning customers.

"Costa del Sol provides not only a resort lifestyle environment but it comes equipped with state-of-the-art communications facilities, security and amenities that satisfy the demanding standards of mid to high-end customers."

About IPC
Listed on the main board of the Singapore Exchange (SGX), IPC Corporation Ltd (IPC) is an established Asian IT vendor in Thin Computing and e-Services with a marketing and sales distribution network in more than 50 countries worldwide.

Group IT Businesses
· Thin Computing
· e-Services

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

Thin Computing

ThinSoft (Holdings) Inc. (ThinSoft), a 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). ThinSoft offers three flagship software product series BeTwin, WinConnect and WinConnect Server XP, which run applications on Windows and Linux. Windows and Linux represent the world's two most dominating operating systems. These solutions address the pervasive computing needs of individuals and organisations in the characteristically dynamic computing and communications environment. The competitive efficiency of the solutions are attributed to the ability to link multiple users to a single host computer with uncompromised computing power as well as concurrent Internet usage.

*For more information, please visit our website at www.thinsoftinc.com
ThinSoft (Stock code: 8096) is listed on the GEM board of the Stock Exchange of Hong Kong.

e-Services

e-IPC, a wholly owned subsidiary of IPC, is a leading Internet infrastructure provider of e-Services 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.

OLX

OLX enables and facilitates the entire fulfillment cycle in the supply chain from credit check to 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.

Broadband Systems Integration

In the area of Broadband Systems Integration, IPC successfully developed and launched EaziSurf; an in-premise broadband solution for the Multi-Dwelling Unit (MDU) market. EaziSurf is a wired and wireless in-premise hardware and software broadband solution for the bandwidth demanding provision of seamless multimedia communications in MDU sites such as hotels and residential condominiums.

*For more information, please visit our websites at www.e-ipc.com.cn and www.essex.com.sg

Property Development Project

The Group has a significant property asset in Zhuhai, China, that is being developed into a premier residential cum commercial property ( www.costadelsol.com.cn ).

The property development project, upon completion in phases, comprises the planned 1,610 units of apartments, houses, service apartments and shopping centre retail units. Phase-I was launched in May 2002 and the property development project is now in its second phase of construction.

For more information, please contact:
Leslie Sim
VP, Investor Relations
IPC Corporation Ltd
DID: (65) 6744-2688
Email: leslie.sim@ipc.com.sg