The changes to the executive management team include:

Mr. Steven Campbell, Chief Executive Officer of MIL, is appointed as Chief Executive Officer of KR Precision Public Company Limited.

Mr. Albert Kim Guan Ong, President of Data Storage Components Division of MIL, is appointed the President and Chief Operating Officer of the Company.

Mr. Yong Kok Hoon, Chief Financial Officer of MIL, is appointed Chief Financial Officer of the Company.

The change to the Board of directors is:

Mr. Steven Campbell, KRP's Chief Executive Officer will also serve as executive director of the Company.

Mr. Steven Campbell, CEO of KR Precision commented, "We are excited about the future and are pleased to have the new senior management team on board to spearhead the integration plan. With the combined technical and engineering talents, enhanced financial strength, increase in production capacity and expanded customer base, we are confident that the new combined entity will emerge as a stronger supplier of suspension assemblies for the HDD industry."

Brief biographies of the new management team follow:

Steven Glenn Campbell is a non-independent Executive Director and Chief Executive Officer of Magnecomp International Limited. He joined Magnecomp on July 26, 2002 and is currently based in Singapore. Prior to joining Magnecomp he was the head of the Desktop Solutions Division for Western Digital Corporation and also held several other executive positions at WD including Senior VP of Engineering, VP of New Product Introduction and Chief Quality Officer. Mr. Campbell has over 25 years of experience in the electronics and disk drive industries, including more than 22 years in the data storage industry. His experience also includes managerial and engineering positions with DataPlay Corporation, Quantum Corporation, Honeywell Corporation and Hewlett-Packard Corporation. He holds three U.S. patents in the area of magnetic storage and received his Bachelor’s degree in Mechanical Engineering from the University of Arizona.

Albert Ong Kim Guan is a non-independent Executive Director and President of the Data Storage Components Division of Magnecomp International Limited. He was appointed to the Board on February 18, 2002. Mr Ong has more than 18 years of data storage experience. He spent the initial years of his career at one of the world’s leading manufacturers of hard disk drives in various management positions both in Asia and the United States rising from engineer to senior director. Mr Ong received his Bachelor’s degree in Electrical Engineering from the University of Western Australia and holds a post graduate diploma in Business Administration and one patent in the area of Optical Storage.

Yong Kok Hoon is a non-independent Executive Director and Chief Financial Officer of Magnecomp International Limited. He was appointed to the Board on February 18, 2002. Mr Yong is a Certified Public Accountant and is a Fellow of the Association of Chartered Certified Accountants. Prior to joining the Group, he was the Group Financial Controller of QAF Group and was a partner in an international accounting firm. Mr Yong started his accounting career with KPMG and subsequently spent more than ten years in Ernst & Young specializing in auditing and advisory services for companies in various industries ranging from medium size enterprises to large MNCs, Big-Cap listed companies and conglomerates. He also acted as reporting accountant for multi-million-dollar IPOs and M&A transactions. He was a member of the financial statements review committee and was also a member of the China committee of the Institute of Certified Public Accountants of Singapore. He holds a Master’s of Business Administration degree from the International Management Centre, United Kingdom.

Headquartered in Ayutthaya, Thailand, KR Precision is a world leader in the manufacturing and optimizing of Suspension Assemblies for Hard Disk Drives and in the manufacturing of precision metal components. KR Precision counts among its customers many of the world’s largest and most well known Hard Disk Drive producers. For more information, please visit the KR Precision website at http://www.krprecision.com.

Magnecomp manufactures hard disk drive suspension assemblies under its Data Storage Components Division (“DS”) for major hard disk drive manufacturers and performs precision stamping, commercial tooling and die, and assembly in its Office Automation and Consumer Electronics Components Division (“OACE”) for a variety of customers worldwide. The Group became a publicly traded company on the Singapore Stock Exchange in January 1998. Magnecomp has manufacturing facilities in China and Thailand and a research and development Technology Center facility close to its USA customers. More information about Magnecomp can be found at http://www.magnecomp.com.