MEDIA RELEASE – FOR IMMEDIATE RELEASE

Adampak Q12010 net profit jumps 261.9% yoy to

US$2.26 million

•

segmentsQ12010 revenue up 59.7% yoy to US$15.4m; achieves growth in all

• Net margin improves to 14.6%

Singapore, 13 May 2010 –

of high-performance labels, seals and other precision die-cut components, has performed

well for the three months ended 31 March 2010 (Q12010).

The Group’s Q12010 revenue increased 59.7% year-on-year (“yoy”) from US$9.7 million to

US$15.4 million with growth across all segments. The Hard Disk Drive (“HDD”) segment,

which is the Group’s largest revenue contributor, grew 56.1% to US$ 8.3 million. With the

Group enjoying economies of scale, gross profit for the quarter jumped 109.0% yoy to

US$5.2 million. Consequently the gross margin for Q12010 increased from 25.9% in Q12009

to 33.9%.

Expenses for the quarter were largely kept in check with distribution and selling expenses for

Q12010 rising 21.8% yoy to US$1.0 million and administrative expensive increasing 35.9%

yoy to US$1.4 million. As a result, profit before tax for Q12010 jumped 305.4% yoy to

US$2.8 million. Tax expenses for Q12010 rose 668.0% yoy to US$0.6 million from US$0.08

million due to the expiry of tax holiday period of Adampak Thailand and higher profit.

Consequently, net profit increased 261.9% yoy to US$2.3 million.Adampak Limited, (“Adampak” or the “Group”), a manufacturer

“Continued support from customers and suppliers and strong execution by

the Adampak team allowed the Group to benefit from an improving economic

environment to deliver strong operational and financial results for Q12010.

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Looking ahead, business sentiments are more positive and we are optimistic

of the Group’s prospects in Q22010. ”

Mr. Chua Cheng Song, Chief Executive Officer

Financial Highlights

(US$’000) Q12010 Q42009 Growth Q12009 Growth

Revenue 15,415 16,449 -6.3% 9,651 59.7%

Gross Profit 5,224 5,775 -9.5% 2,500 109.0%

PBT 2,834 3,118 -9.1% 699 305.4%

Net Profit 2,258 2,446 -7.7% 624 261.9%

Gross Profit Margin 33.9% 35.1% N.M 25.9% N.M

Net Profit Margin 14.6% 14.9% N.M 6.5% N.M

EPS* (US Cents) 0.86 0.93 -7.7% 0.24 261.9%

*The above was computed based on 263,625,000 ordinary shares

For Q12010, sales to the electronics industry increased by 61.8% yoy to US$13.8 million,

accounting for 89.6% of the Group’s sales.

The increase came from:-

•

Group’s revenue was 54.1% for Q12010 (Q12009: 55.4%).The HDD segment which increased 56.1% yoy to US$8.3 million. HDD share of

•

contributed 7.4% of the Group’s revenue in Q12010. (Q12009: 7.4%).The Group’s telecommunication segment grew 59.0% yoy to US$1.1 million and

•

contributed 28.1% of the Group’s revenue. (Q12009: 25.6%).

Sales to the non-electronics sectors, which accounted for the remaining 10.4% of the

Group’s revenue, increased 43.6% yoy to US$1.6 million.

Sales of die-cut components increased 54.8% yoy to US$6.2 million or 40.5% of the Group’s

revenue. Sales of labels increased 62.8% yoy to US$9.0 million, representing 58.7% of

Group’s revenue.

In Q12010, the Group generated US$2.9 million from net operating activities. The Group is

in a net cash position with US$12.6 million cash and cash equivalents at the end of the

quarter.

---- The End ----Sales to other electronics segments grew 75.1% yoy to US$4.3 million. This