14 March 2005 – Strategic Relationship Agreement with Imation Corporation for USB Portable Storage Products

SINGAPORE, 14 March 2005 – The Board of Directors of Trek 2000 International Ltd (“Trek” or the “Company”) is pleased to announce that the Company has entered into a strategic relationship with Imation Corporation (“Imation”), a U.S. corporation listed on the New York Stock Exchange and a global leader in data storage removable media, with more than 50 years experience developing and marketing data storage products and serving customers worldwide, for the development and marketing of USB Portable Storage Products, whereby:-

a) Trek will sell exclusively to Imation and Imation will purchase exclusively
from Trek, on a global basis, almost all USB portable storage products
developed by the Company;

b) Trek will grant to Imation exclusive rights under Trek’s ThumbDrive
trade
marks and a non-exclusive licence under Trek’s USB portable storage
product patents to distribute, market and sell Trek’s USB portable storage
products in return for which Trek shall be entitled to a share of Imation’s
gross margin on such sales;

c) Trek will focus on research, development and manufacturing of leadingedge
USB portable storage products, providing unique solutions for personal and business applications.

This strategic relationship will allow both the Company and Imation to tap into
each other’s strengths. The Company will continue its primary focus on research,
development and manufacturing of leading-edge USB portable storage products,
providing unique solutions for personal and business applications, whilst
Imation’s flash portfolio of USB 2.0 Swivel Flash Drives and Flash Drive Minis will
be extended to include additional products. In addition to standard flash storage
devices, both companies’ portfolios will include MP3 players, drives with
embedded cameras and patented “biometric” drives designed for high-security
access-controlled applications requiring fingerprint authentication.

This strategic relationship is subject to Imation acquiring within 60 days of this
announcement such number of existing issued ordinary shares in the capital of
Trek which either (i) constitute at least 5% of Trek’s total issued ordinary share
capital; or (ii) have an aggregate acquisition price of not less than US$3.8 million.
Upon the fulfilment of this condition, Trek will grant to Imation the right to
nominate a person to Trek’s Board of Directors as a voting member or as a nonvoting observer.

To facilitate Imation’s fulfilment of the abovementioned condition, Mr Henry Tan,
a Director and Substantial Shareholder of the Company, has granted a call option
to Imation which gives Imation the right to acquire ordinary shares in the capital
of Trek from Mr Henry Tan constituting up to three per cent. of the total issued
ordinary share capital of Trek. The strategic relationship is valid for a period of 10 years and renewable annually thereafter with provision for termination in the event that, inter alia, various targets are not achieved.

The Company expects that this strategic alliance will contribute positively to its
performance in the current financial year.

Save as disclosed above, none of the Directors of the Company has, and the
Company has not received any notification from any of its controlling shareholders that it has any interest, direct or indirect, in the above transactions.