Investors

i. CSE sold 100% or 1,260,000 ordinary shares of S$1.00 each fully paid in the capital of I-magination Solution Pte Ltd ("IS") for a cash consideration of MYR2,820,000 (approximately S$1,250,000) to IMS; and

ii. CSE-Infotech Limited ("CSE-Infotech"), a wholly owned subsidiary of CSE, subscribed for 35.8% or 896,000 ordinary shares of MYR1.00 each fully paid in the capital of IMS for a cash consideration of SGD1,703,829.79 (approximately MYR3,844,000).

The consideration for the sale of IS was arrived at on a willing buyer and willing seller basis after taking into consideration the net asset value of IS as at 31 December 2003 of S$1,243,784.20.

The consideration for the subscription of ordinary shares in IMS was arrived at on a willing buyer and willing seller basis after taking into consideration the business prospects of IMS.

The shareholders of IMS are: management (40.2%), CSE-Infotech (35.8%), Progressive Impact Technology Sdn Bhd (14.0%) and OSK Technology Ventures Sdn Bhd (10.0%)

CSE proposed to finance the difference of approximately SGD454,000 from internally generated funds. The two transactions will not have a material impact on the net tangible assets per share and the earnings per share of CSE for the financial year ending 31 December 2004.

The abovementioned transactions are non-discloseable transactions under Chapter 10 of the Listing Manual of the Singapore Exchange Securities Trading Limited.

None of the Directors or controlling shareholders of CSE has any interest, direct or indirect, in the abovementioned transactions.

IMS provides a suite of seamlessly integrated imaging, document management and workflow software products. IMS was granted MSC status on 16 April 2004. It has a regional clientele which includes Great Eastern Life Insurance (Malaysia), Digi Telecommunication Sdn Bhd (Malaysia), Rashid Hussain Security (Malaysia); Centacare - Canberra and Gouburn (Australia), Shanghai Volkswagon (China), Bank of China (Hong Kong), Hutchinson Telephone Company (Hong Kong), Hellmann Worldwide Logistics (Hong Kong), Hyundai Mipo Dockyard (Korea), Ministry of Defence (Singapore), Jurong Town Corporation (Singapore) and Federal Express (Singapore).

CSE Global Limited is a global system integrator listed on the main board of the Singapore Exchange (SGX: CSE Global), operating in the Americas, Europe, the Middle East, Africa and Asia and has 700 employees spread over 17 offices in 14 countries. CSE provides state-of-the art, cost-effective total integrated industrial automation, information technology and telecommunication solutions to clients globally in the energy (Oil & Gas/Power), chemical/petrochemical, utilities, water and waste water, healthcare and public sectors. Visit www.cse-global.com for more information.