InnoTek Limited

1 Finlayson Green, #15-02, Singapore 049246. Tel: (65) 6535 0689 Fax: (65) 6533 2680 Reg. No. 199508431Z

SGX-Listed InnoTek Disposes Stakes in Two Subsidiaries; Resources Re-Allocated to Move Up Value Chain; Prepare for Investment in New Business
SINGAPORE, 20 February, 2012 SGX Mainboard-listed InnoTek Limited (InnoTek or the Group) announced today that its wholly-owned precision metal components manufacturer, Mansfield Manufacturing Company Limited (Mansfield), has entered into agreements to dispose stakes in a Dutch and a PRC subsidiary, with the resources to be re-allocated to improve capabilities in its other manufacturing facilities, increase capacity of its automotive division and focus to expand into other new businesses. In the transaction involving the disposal of the Dutch subsidiary, Mansfield has entered into a sale and purchase agreement to dispose of an initial stake of 42.7% in Netherlands-based metal frame and functional module specialist Exerion Precision Technology Holding B.V. (Exerion), which has operations in the Czech Republic, to Alliancecorp Manufacturing Sdn. Bhd. (ACM), a company incorporated in Malaysia, for approximately Euro 1.5 million (S$2.5 million) in cash. With the completion of this transaction, Exerion has ceased to be a subsidiary of Mansfield. Mansfield has also entered into a put and call option agreement with ACM, which is exercisable up to 30 April 2014, to dispose of its remaining stake in Exerion representing 49% of the total issued and paid-up capital of Exerion to ACM for approximately Euro 1.7 million (S$2.9 million) in cash. Exerions products are used in the printing, medical, industrial and semiconductor industries. This transaction is expected to realise an estimated gain on disposal of approximately Euro 1.1 million (S$1.8 million) based on the net asset value on the unaudited balance sheet of Exerion as at 30 September 2011. In the transaction involving the disposal of the PRC subsidiary, Mansfield has agreed to sell its entire 55% stake in Mansfield Industrial Company Ltd (MICL), which has a wholly-owned subsidiary based in Dalian, PRC, for an aggregate cash consideration of HK$55 million (approximately S$8.9 million) to Mr Lawrence Xia, who holds the remaining 45% stake in MICL. The purchase consideration for the Sale of MICL will be settled in two tranches the first by April 2012 and the second by December 2014. Upon final completion, there will be an estimated gain on disposal of HK$2.0 million (approximately S$0.3 million) based on the net asset value on the unaudited balance sheet of MICL as at 30 September 2011.

Media Release SGX-Listed InnoTek Disposes Stakes In Two Subsidiaries; Resources Re-Allocated to Move Up Value Chain; Prepare for Investment in New Business 20 February 2012 Page 2 of 3 ________________________________________________________________________________

Incorporated in Hong Kong, MICL specializes in precision metal stamping components, die making and sub-assembly of stamped components used for LCD TV stands and TV metal frames, serving mostly Japanese customers. MICLs Dalian facility is one of seven facilities which InnoTek currently operates in the PRC. Following a strategic review, InnoTek has decided to dispose Exerion as its business is non-core and is classified as a low-volume, high-mix. In the case of MICL, the board of directors of InnoTek has concluded that the Dalian facility would require more investments and significantly higher revenue to achieve economies of scale and desired profit levels. The proceeds from the disposals will be applied towards expanding Mansfields business activities in the PRC and used for other general working capital purposes. Group Managing Director of InnoTek Mr. Yong Kok Hoon said, We remain focused on reducing dependence on businesses which are lower in strategic value, facing margin pressure or are less stable. Instead, resources will be channeled to enhance our value proposition in office automation and automotive divisions, move up the value chain to capture new opportunities in higher-end smart TV business and for a new electronics-related business, he said. The Groups financial position remains healthy, with net cash position of S$31.0 million or 13.7 cents per share, comprising cash and cash equivalents of S$60.5 million less total borrowings of S$29.5 million, as at 30 September 2011.
## End of Release ##

Media Release SGX-Listed InnoTek Disposes Stakes In Two Subsidiaries; Resources Re-Allocated to Move Up Value Chain; Prepare for Investment in New Business 20 February 2012 Page 3 of 3 ________________________________________________________________________________

About InnoTek Limited Singapore Exchange Mainboard-listed InnoTek Limited (together with its subsidiaries the Group) is a precision metal components manufacturer, serving the consumer electronics, office automation and automotive industries. With over 10 manufacturing facilities across China and Europe, the Groups wholly owned subsidiary, Mansfield Manufacturing Company Limited (MSF), provides precision metal stamping, commercial tool and die fabrications, sub-assembly work and frame manufacturing services to a strong and diversified base of Japanese and European endcustomers. For more information, visit: www.innotek.com.sg InnoTek Limited contact: InnoTek Limited 1 Finlayson Green, #15-02, Singapore 049246 Tel: (65) 6535 0689, Fax: (65) 6533 2680 Linda Sim, lindasim@innotek.com.sg Yong Kok Hoon, khyong@innotek.com.sg Investor Relations contact: WeR1 Consultants Pte Ltd 38A Circular Road, Singapore 049394 Tel: (65) 6737 4844, Fax: (65) 6737 4944 Josephine Auxilio, josephine@wer1.net Lai Kwok Kin, laikkin@wer1.net