PROPOSED RENOUNCEABLE NON-UNDERWRITTEN RIGHTS ISSUE OF SHARES WITH WARRANTS

Where capitalised terms are used in this announcement and not otherwise defined, such capitalised terms shall bear the same meanings as ascribed to them in the Company?s announcements on 13 August 2007, 24 August 2007 and 6 September 2007 relating to the proposed Rights Shares cum Warrants Issue

Further to the announcements made on 13 August 2007, 24 August 2007 and 6 September 2007 relating to the proposed Rights Shares cum Warrants Issue, the Board of Directors of Inno-Pacific Holdings Ltd (the "Company") is pleased to announce that the Singapore Exchange Securities Trading Limited ("SGX-ST") has on 28 September 2007 granted in-principle approval for the listing and quotation of up to 1,032,372,966 Rights Shares with up to 258,093,241 Warrants and up to 258,093,241 New Shares arising from the exercise of the Warrants on the Official List of the SGX-ST, subject to,

(a) compliance with the SGX-ST?s listing requirements and guidelines;

(b) Shareholders? approval being obtained in a general meeting to be convened for the Rights Shares cum Warrants Issue;

(c) a satisfactory spread of warrant holders to provide an orderly market for the Warrants in compliance with Rule 826 of the Listing Manual;

(d) submission of notification in Rule 864(4) of the Listing Manual, if applicable, upon any significant changes affecting the matter in the application; and

The SGX-ST?s in-principle approval is not to be taken as an indication of the merits of the Rights Shares cum Warrants Issue, the Rights Shares, the Warrants, the New Shares, the Company or its subsidiaries.

A circular to the shareholders setting out further details of the Rights Shares cum Warrants Issue and the notice of extraordinary general meeting will be despatched to the shareholders in due course.

The Books Closure Date, on which the Register of Members and the Share Transfer Books of the Company will be closed to determine the entitlements of shareholders to the Rights Shares cum Warrants Issue, will be announced in due course.

By Order of the Board

Wong Chin Yong

Managing Director

28 September 2007 inter alia, the following conditions:-

INNO-PACIFIC HOLDINGS LTD