Litigation to protect the group's intellectual property rights

The Board of Directors of Trek 2000 International Ltd ("the Company") wishes to announce that its wholly owned subsidiary, Trek Technology (Singapore) Pte Ltd ("Trek Technology") had instituted an action against three parties for alleged patent infringement ("the Action"). This action, Suit 609 of 2002/K is being undertaken in Singapore.

The three parties named as defendants are FE Global Electronics Pte Ltd ("F E Global Electronics"), Electec Pte Ltd ("Electec") and M-Systems Flash Disk Pioneers Ltd ("M-Systems"), a company incorporated in Israel.

The Action concerns a patent known as "A Portable Data Storage Device" filed under Application no 200201280-5, granted to Trek Technology under P-No. 87504 [WO 01/06/1692] ("the Patent") on 16 April 2002 by the Intellectual Property Office of Singapore.

By another action in Suit 604/2002, M-Systems had commenced an action against Trek Technology for alleged groundless threat of infringements.

Trek Technology had issued letters to members of the trade to notify them of the grant of the Patent. M-Systems alleges that such letters constitute groundless threats and seeks damages and invalidation of the Patent.

Both Suits have now been consolidated into one Suit with Trek Technology as the Plaintiff and M-Systems, F E Global Electronics and Electec as the Defendants ("the Consolidated Suit").

Trek Technology has also commenced another action in Singapore, Suit 672 of 2002/S, against Ritronics Components (S'pore) Pte Ltd ("Ritronics") ("the Ritronics Action") for alleged patent infringement. Ritronics is a company incorporated in Singapore. The Ritronics Action concerns the Patent and is to be heard together with the Consolidated Suit.

The Directors are of the view that Trek Technology have a good case in the Consolidated Suit and Suit 672/2002/S.

The Directors are of the view that the above legal proceedings do not have any material impact on the Group's earnings or net tangible assets for the current financial year ending 31 December 2002.

< Back