Drew & Napier LLC as counsel to Metax Engineering Corporation Ltd for the rights issue

27 February 2009 – Drew & Napier LLC (“Drew & Napier”) acted as counsel to Metax Engineering Corporation Ltd ("Company") in respect of the renounceable non-underwritten rights issue ("Rights Issue") of up to 45,579,545 ordinary shares ("Rights Shares") at an issue price of S$0.11 for each Right Share in the capital of the Company on the basis of one Rights Share for every two existing ordinary shares in the capital of the Company held by entitled shareholders.

28,099,902 Rights Shares were allotted and issued by the Company pursuant to the Rights Issue raising estimated net proceeds of approximately S$2.8 million after deducting expenses. The Rights have been listed and quoted on the Official List of the SGX-ST on 27 February 2009.

The Drew team was led by Mr Petrus Huang, Director, Mr Douglas Koh, Ms Felicia Koh and Mr Alex Wang.

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For more information please contact:

Verona Huang
Corporate Affairs Manager
Drew & Napier LLC
Tel: +65 6531 2482
Email: verona.huang@drewnapier.com

Lisa Lim
Corporate Affairs Executive
Drew & Napier LLC
Tel: +65 6531 2218
Email: lisa.lim@drewnapier.com