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21 February 2002

EXTRAORDINARY GENERAL MEETING

The Directors of IPC Corporation Ltd ("the Company") are pleased to announce that at the Extraordinary General Meeting of the Company held on 21 February 2002, the ordinary resolution relating to the proposed spin-off and dilution of more than 20% of the Company's shareholding interest in ThinSoft Pte Ltd was duly passed.

The Directors wish to clarify that under "CORPORATE RESTRUCTURING OF THIN COMPUTING BUSINESS DIVISION" at paragraph 3.9 on page 10 of the circular to shareholders dated 4 February 2002, the sum of HK$37,200,000 standing to the credit of the share premium account of ThinSoft Holdings to pay for 37,200.000 shares of ThinSoft Holdings at par value" should be substituted with the sum of "HK$18,600,000".

By Order of the Board
IPC Corporation Ltd

Submitted by Benjamin Ngiam Mia Kiat, Director on 21/02/2002 to the SGX

Company Announcement