SGX-Listed InnoTek Invests S$15.7 Million In Sabana REIT; Resumes Share Buyback To Enhance Shareholder Value

· Subscribed for and has been allotted 15 million shares at S$1.05 each in
REIT recently listed on SGX

· Investment enhances returns on its substantive cash holdings

· Resumes share buyback and increases treasury shares to 19.03 million
currently

SINGAPORE, 29 November 2010 – InnoTek Limited (“InnoTek” or “the Group”) has invested S$15.7 million in Sabana Shari’ah Compliant Industrial Real Estate Investment Trust (“Sabana REIT”), which was listed last Friday on the Mainboard of the Singapore Exchange, in a move to enhance shareholder value by increasing the return from its cash holdings.

SGX Mainboard-listed InnoTek said it has been allotted 15 million shares at an issue price of S$1.05 each in Sabana REIT, the first Syariah-compliant real estate investment trust listed on the SGX and the world's largest-listed Syariah compliant REIT by total assets.

The precision metal components manufacturer, which has substantial operations in China, held net cash of S$60.8 million or 26.6 cents per share as at 30 September 2010. It disposed its data storage business in FY2007 for US$133 million and has since paid S$0.3 dividends per share, including S$0.05 each year for FY2008 and FY2009.

“InnoTek has a strong balance sheet and we are very careful how best to return
value to shareholders. While we are still looking to acquire companies which can add value to our core business, we will not be rushed. This investment in the
REIT offers a much better return than in bank deposits,” said InnoTek’s Managing Director Mr Yong Kok Hoon.

According to Sabana REIT’s prospectus, its Reit manager Sabana Real Estate
Investment Management has forecast a distribution yield of about 8.22 per cent
for 2011 and 8.25 per cent for 2012.

Mr. Yong Kok Hoon has also been appointed as an independent director of
Sabana REIT. Save for Mr Yong and Mr Peter Tan who each holds less than
0.5% units in Sabana REIT, none of the Directors or controlling shareholders of
the Company has any interest, direct or indirect in the Investment other than
through their shareholding interests in the Company.

InnoTek concurrently announced today that it had commenced its share buyback programme with the acquisition of a combined 583,000 shares so far in November.
It currently holds 19.03 million treasury shares, or 8.3% of the total issued capital
of 227.6 million shares as at 26 November 2010, after substantial buybacks since
the financial year ended 31 December 2007 (“FY2007”).

Treasury shares are stocks bought back by the issuing company, reducing the
total number of issued shares in the open market. A reduced issued share capital
base increases the earnings per share and saves the company in dividend
payment, indirectly resulting in a higher yield on net cash.

For the July-September 2010 (“3Q’10”) period InnoTek’s net profit rose to S$4.5
million from S$1.0 million in 3Q’09 as its wholly owned Mansfield Manufacturing
Company Limited recorded higher sales of TV components and tooling .