Singapore, 12 June 2002 – THINSOFT (Holdings) Inc (‘the ‘Group’) today announced that it has presented RMB four million worth of its Thin Computing software solution BeTwin to the Ministry of Education (MOE) of the People’s Republic of China (PRC) to establish multimedia computer centres in provincial schools across the nation.

The BeTwin presentation initiative, implemented through wholly owned subsidiary ThinSoft Pte Ltd (ThinSoft), is part of the Group’s corporate program to drive the proliferation of computing access and skills training market segment.

The Group has two flagship products, BeTwin and WinConnect, that support applications running on the world’s two most dominant operating systems Windows and Linux respectively. ThinSoft (Holdings) Inc is listed on the Growth Enterprise Market (GEM) of the Stock Exchange of Hong Kong Limited. Its stock code on GEM is 8096.

BeTwin’s versatility is its ability as an Ultra Thin Client (UTC) software solution to transform and deliver the computing power of one PC to five users concurrently.

This is achieved by installing the BeTwin software in a host PC and through connections with standard Universal Serial Bus (USB) keyboards, mice, video cards and monitors. Additional users instantaneously and concurrently share the full computing resources.

Each user has full access to the power of the host computer and can run the full spectrum of Windows applications at the same time, including supporting multimedia applications. Furthermore, users can access the Internet via one modem and phone line.

BeTwin’s versatility and lower Total Cost of Ownership (TCO) is a boon to the PRC’s MOE and the provincial authorities in their quest to establish quality school multimedia computer centres to facilitate access to state-of-the-art computers and proliferate skills training to the massive student population in China.

The Group provided 4,350 BeTwin software solutions to 29 provincial educational authorities, and this was officially presented to Madam Chen Zhili, Minister, The Ministry of Education, PRC, on 7 June 2002 in Beijing.

The mandate for each province is to establish five multimedia computer centres; each centre will have 40 computer terminals available.

For each provincial educational authority, this results in a lower initial cost of investment in computing resources and leads to a dramatic reduction in the Total Cost of Ownership (TCO)

ThinSoft President Mr. Ngiam said: "The BeTwin initiative is two-pronged. Firstly, it brings a wider reach in terms of providing resources for computing access and skills training to students in provinces that would normally be restrained in establishing state-of-the-art multimedia computer centres due to budgetary constraints.

"Secondly, and at the same time, provinces that are not tied by budgetary constraints harness BeTwin’s versatility and lower TCO to further expand and raise the level of computing resources.

"The BeTwin initiative is an effective leveller in making computing resources available in China’s quest to drive the spread of computerisation."

In the PRC, BeTwin has gained wide acceptance and been adopted in the education environments of cities including Beijing, Chongqing, Guangdong, Guizhou, Hebei, Jiangsu and Shanghai.

About ThinSoft (Holdings) Inc:

ThinSoft (Holdings) Inc (the ‘Group’) is a leading global developer and distributor of Thin Computing Solutions (TCS) that reduce the Total Cost of Ownership (TCO) of IT operations. The Group has two flagship products, BeTwin and WinConnect, that support applications running on the world’s two most dominant operating systems Windows and Linux respectively.

ThinSoft (Holdings) Inc is listed on the Growth Enterprise Market (GEM) of the Stock Exchange of Hong Kong Limited. Its stock code on GEM is 8096.

About the products:

BeTwin is the Group’s software product designed for the Windows platform, to turn one PC into as many as five - a host PC plus up to four virtual PCs. Each virtual PC station is easily created through the addition of a set of monitor, keyboard, mouse and speakers. BeTwin allows users of the virtual PC station to share the unused computing power of the host PC. BeTwin is a solution that brings dramatic cost benefits to the ownership of PCs in any multi-user environment.

WinConnect is a software product that the Group designed for the Linux operating system platform, to enable Linux-based terminals to create a remote connection to run Windows applications.

Glossary:

Total Cost of Ownership (‘TCO’)

TCO of IT operations refers to all costs associated with initial IT system acquisition and ongoing usage, which includes: hardware, software, servicing, network management, maintenance, training, support and staffing, etc.

Thin Computing Solutions (‘TCS’)

TCS, by centralizing application processing and management, and data storage for all users, serves to reduce the TCO of IT operations.

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, e-Services & e-Platform solutions and Infocomm Product and Broadband Systems Integration, with a marketing and sales distribution network in more than 50 countries worldwide.

Three Core Business Units
IPC drives three core business units:
· Thin Computing
· e-Services & e-Platform
· Infocomm Product and Broadband Systems Integration

*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 two flagship product series "BeTwin" and "WinConnect" which run applications on Windows and Linux respectively; 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 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.

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

e-Services & e-Platform

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

Infocomm Product and Broadband Systems Integration

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. 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.

In terms of the Broadband Systems Integration dimension, 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 website www.essex.com.sg

Hong Kong:
For further information, please contact:

ThinSoft (Holdings) Inc
Ms Miranda M K Pang
Tel: 852 2587 7800
Email: miranda.pang@thinsoftinc.com

Singapore:
For enquiries, please contact:
Mr Leslie Sim
Vice President, Investor Relations
23 Tai Seng Drive, Singapore 535224
Tel: (65) 6744 2688 Fax: (65) 6289 7308
Email: leslie.sim@ipc.com.sg