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GP Technologies Acquires 51% Interest in Lighthouse Technologies, a Major Supplier of Indoor & Outdoor LED Video Displays

Business Wire, July 18, 2000

Business Editors/High-Tech Writers

HONG KONG--(BUSINESS WIRE)--July 18, 2000

Gold Peak Industries (Holdings) Limited, the Hong Kong international industrial group specializing in batteries, electrical and electronic products, announced that its acquisition of a 51% interest in Lighthouse Technologies Limited ("Lighthouse") for an aggregate consideration of approximately HK$136 million.

Lighthouse specializes in the design, development, manufacture and marketing of very large scale video displays (big screens) using the latest high brightness LED technology. It is currently one of the world's top 5 suppliers of outdoor video systems and the leading supplier of indoor LED video displays in the world.

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The consideration is to be partly satisfied by approximately HK$34 million in cash and partly by way of issuing approximately 52 million new Gold Peak shares ("Consideration Shares") at HK$1.955 per share, being the closing price at July 17, 2000 excluding the final dividend of HK$0.07 per share declared on June 27, 2000.

Gold Peak's member company, Clipsal Industries (Holdings) Limited ("Clipsal Industries") also holds a 20% interest in Lighthouse. GP Industries Limited (formally known as GPE Industries Limited), the Singapore-listed subsidiary of Gold Peak, has a 49.78% interest in Clipsal Industries.

Mr. Victor Lo, Chairman and Chief Executive of Gold Peak said, "We are very pleased to be able to make a direct investment in such a high quality technology company with a strong market position. Following the Group's restructuring that positions GP Industries as our industrial investment vehicle, we will now allocate more resources to develop the Technology and Strategic Division which focuses on new product technologies and B2B e-commerce. We are very excited about the potential of the latest LED technology. We see LED and LED related products as an important growth area. We will continue to look for further investment in this area."

Mr. Tony van de Ven, CEO of Lighthouse said, "We are very happy to join the Gold Peak family. With such a strong partner in Asia, we believe our market position will be further strengthened. The recent technological breakthrough in HB LEDs provide excellent opportunities for new applications such as electronic billboard advertising, automotive and truck lights, signaling and illumination. With Lighthouse's strength in technological development and marketing, we are confident that we will be able to continue to grow rapidly in these exploding markets."

The Consideration Shares represent 11.0% of the existing issued share capital of Gold Peak or 9.9% of the enlarged share capital. The consideration represents approximately 12 times the projected net profit of Lighthouse, estimated to be about US$2.85 million (HK$22.2 million) for the financial year 2000.

Notes to Editor

What is high brightness ("HB") LED technology

This is a very new generation of high luminous, intensity, high-efficiency LED materials that can provide very high quality multi-color and full-color effect for displays, signaling and illumination applications. With its recent technological development, many new applications are possible including big screens for indoor and outdoor use, automotive lighting, outdoor signs, traffic signals & highway signs and specialty illumination.

Background information on Lighthouse Technologies Limited

Lighthouse specialized in the design, development, manufacturing and marketing of very large scale video displays (big screens) using the latest high brightness (`HB') light emitting diode (`LED') technology. Its wide range of modular display products is used for international sports events, music concerts, corporate presentation and electronic billboard advertising. Lighthouse is fast expanding into other new product areas using the HB LED technology. It is currently one of the leading major suppliers of outdoor video systems and indoor LED video displays in the world. Lighthouse has been awarded the 1999 Hong Kong Awards for Industry Consumer Product Design Award and HKITCC Certificate of Merit in Technological Achievement.

Background information on Gold Peak

Gold Peak Group is an Asian multinational group which owns a diversified portfolio of high quality industrial investments via its major investment vehicle, the Singapore-listed GP Industries Limited (formally known as GPE Industries Limited). Its Technology and Strategic Division is engaged in the development of new product technologies and business-to-business e-commerce.

The parent company, Gold Peak Industries (Holdings) Limited (HKSE Stock Code: 40) was established in 1964 and listed in Hong Kong in 1984. In the industrial sector, the Group has established a leadership position in Asia for most of its product categories including GP Batteries & Clipsal electrical installation products.

GP Industries currently holds a controlling stake in GP Batteries International Limited and Clipsal Industries (Holdings) Limited. GP Industries, GP Batteries and Clipsal Industries were listed in Singapore in 1995, 1991 and 1992 respectively.

Business Services Industry

GP Technologies Acquires 51% Interest in Lighthouse Technologies, a Major Supplier of Indoor & Outdoor LED Video Displays

Business Wire, July 18, 2000

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