1 August, 2003 Visionmax International Limited ("VMIL") a supplier of Integrated Multi-Channel Visualization Systems for Multi-media and 3D Graphics, introduced its products for the first time to the US market at the Siggraph Exhibition, held in San Diego from 29 to 31 July.

VMIL demonstrated two of its cluster-PC systems and software at the exhibition. The main part of the booth was taken up by a VM3100 3-channel, passive stereo system that was used to demonstrate the quality of the Company's software-based overlapping and edge blending. The Company also demonstrated its entry-level VM1100 portable passive stereo system that is supplied to customers as a ready-to-use system, with two projectors, image generator, screen and visualization software. In addition, VMIL took the opportunity to show certain customers on-the-fly conversion of commercially available DVD movies to stereo format.

Commenting on the Exhibition, Ben Vaughan, VMIL's Managing Director, said:

"We attended Siggraph principally because it gave us the opportunity to have meetings with more than a dozen potential Reseller Partners and to demonstrate our products to them. These meetings were very successful and we expect to announce more Partnership Agreements in the coming months.

"While the number of visitors to the Exhibition seemed to be lower than in previous years, the quality was as high as expected and we were delighted with the interest shown in our products and the number of potential customers that we were able to meet. We certainly expect to have generated new business from the Exhibition and are hopeful that we will be asked to bid for a number of significant contracts in the near future."

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Notes to Editors

VMIL was established as a joint venture in June 2003 to manage the international sales, marketing and distribution of the VisionMax¢â range of PC-cluster Visualization Systems developed and produced by Hi-Tech Media Co., Ltd of Korea.

The directors of VMIL are Ben Vaughan and Bong-Soo Youn. Mr Youn is the Founder and Chief Executive of Hi-Tech Media Co., Ltd. Mr Vaughan has been in the Visualization Industry for more than a decade. He was the head of External Affairs for Virtuality Group PLC, a co-founder and VP of Retinal Displays Inc and a Vice-President of InterSense Inc.