CRAFT PRINT INTERNATIONAL LIMITED

(Incorporated in the Republic of Singapore on 4 September 2000)

Invitation in respect of 25,000,000 New Shares of $0.05 each comprising:

(1) 5,000,000 Offer Shares at $0.22 for each Offer Share by way of public offer; and

(2) 20,000,000 Placement Shares by way of placement, comprising:-

(a) 15,000,000 Placement Shares at $0.22 for each Placement Shares; and

(b) 5,000,000 Reserved Shares for employees, independent Directors and business associates of the Group, comprising:-

(i) 2,800,000 Reserved Shares at $0.20 for each Reserved Share for employees of the Group; and

(ii) 2,200,000 Reserved Shares at $0.22 for each Reserved Share for independent Directors and business associates of the Group,payable in full on application

The Board of Directors of Craft Print International Limited (the "Company") is pleased to announce that at the close of the Application List at 12.00 noon on 18 January 2000, there were 35,069 applications for the 5,000,000 Offer Shares available to the public for subscription. In total, these subscribers applied for 747,497,000 Offer Shares, with application moneys received amounting to approximately S$164.4 million.

Based on the 5,000,000 Offer Shares available to the public for subscription, the offer to the public is approximately 149.5 times subscribed.

To ensure a reasonable spread of shareholders of the company, the Board Directors of the Company has decided on the following basis of allotment:-

The 15,000,000 Placement Shares were also fully taken up and the spread of placees is as follows:-

The 5,000,000 Reserved Shares have also been fully taken up by employees and business associates of the Group. The spread of the Reserved Shares is as follows:-

The Shares will commence trading on a "ready" basis on 20 January 2000. There will be NO trading on a "when-issued" basis.

The return of unsuccessful applications using printed Application Forms by ordinary post, together with the full amount of the application moneys (without interest or any share of revenue or other benefit arising therefrom), will commence today and is expected to be completed by 21 January 2000. For unsuccessful Electronic Applications, it is expected that the full amount of the application moneys (without interest or any share of revenue or other benefit arising therefrom) will be credited to the applicants' accounts with their Participating Banks (as defined in the Prospectus dated 7 January 2000) within three market days after the close of the Application List.

In respect of partially successful applications, the balance of the application moneys is expected to be refunded without any interest or any share of revenue or other benefit to the applicants, by ordinary post at their own risk (in the case of applications made using printed Application Forms) or being automatically credited to the applicants' accounts with their Participating Banks (in the case of Electronic Applications) within 14 days after the close of the Application List on 18 January 2000.

The Board of Directors of Craft Print International Limited is pleased to advise that CPF members may, with effect from the date on which the Company's Shares are traded as indicated above, use their CPF savings (subject to the 50 per cent. sub-limit) to purchase the Company's Shares as non-trustee shares under and subject to the requirements of the CPF Investment Scheme.

The Company wishes to thank the public who have applied for the Offer Shares and the Placement Shares, the relevant authorities and all who have helped in one way or another in the Company's public offering, for their support and assistance.

DBS Bank and POSBank customers may call the DBS IPO Results Enquiry Service at 327 4767 to check the provisional results of their IPO applications. Customers will be required to enter their CDP Securities Account Number when utilising the automated service.

Issued by
The Development Bank of Singapore Ltd

For and on behalf of
Craft Print International Limited