SINGAPORE – 31 May 2004 – V3 Teletech (“V3”), a homegrown Singapore-based company specializing in developing location based products and solutions, announced today that it has closed a strategic Series A funding round with Gemplus - EDBV Smart Labs (“Smart Labs”) and W3 Infocomm Group (“W3”)

V3’s suite of products harnesses Location Determination and Geographical Information technologies to provide visibility and security to the assets and personnel of enterprises. V3 has successfully deployed their products with major logistics service providers in Singapore, Malaysia and China. The funding proceeds will be primarily used to support V3’s regional growth and the development of new products.

“Proliferation of mobile telecommunication services is driving enterprises to adopt location-based solutions to improve their competitive edge. Introduction of smart card in these solutions will further increase usage and security,” said Mr Chou Fang Soong, President of Gemplus Technologies Asia Pte Ltd and Director of Smart Labs.

Andy Quak, Deputy Chairman of W3 Infocomm Group, said, "I believe in this V3 team. I saw how they build their business, sell to MNCs and win sales in China. W3 is happy to co-invest with Smart Labs”

Henry K S Tan, V3's Executive Chairman, said, "This investment is a strong vote of confidence for our team. V3 also has a strong presence in China, - the largest growing market in Asia - having deployed our solutions in Beijing, Shanghai, Guangzhou and other cities. I am confident that with the support from EDBV, and the access to Gemplus’ technical expertise and strong regional network, V3 will be well positioned to scale up rapidly to become a recognized global player in the Location Base Services and Solutions Industry".

For media enquiries, please contact

V3 Teletech Pte Ltd
Adrian Long
Tel: +65 6446 7291
Fax: +65 6245 0623
Email: adrian@v3teletech.com

V3 Teletech, a leading enterprise resource forecasting, optimization and performance enhancement workflow enabler, focuses in providing solutions and project consultancy for the logistics, transportation operators and enterprises.

V3 Teletech develops innovative N to N logistics workflow IT platform and products which utilize the up-and-coming Geographical Information System (GIS) and Location Determination Technology which encompasses Global Positioning System (GPS); Cellular ID; Radio Frequency Infrared Detection (RFID); which aims to assist lead logistics service providers and enterprises to optimize their resources, operations and to enhance visibility plus security in conventional and cold chain cargo distribution management.

For more information on V3 Teletech, their website is at: http://www.v3teletech.com

Gemplus – EDB Ventures Smart Labs Pte Ltd (“Smart Labs”) was set up in November 2001 as a joint venture between GemVentures of Gemplus and EDB Ventures. Smart Labs looks for and nurtures innovative ideas and applications based on smart card technology. An early-stage fund, Smart Labs has an investment budget of US$6 million targeted at young companies with innovative and viable business plans.

For more information, visit http://www.smartlabs.com.sg

Gemplus International S.A.(Euronext: LU0121706294 - GEM and NASDAQ: GEMP) is the world's leading player in the smart card industry in both revenue and total shipments (source: Gartner-Dataquest (2003), Frost & Sullivan, Datamonitor.) It has the largest R&D team, unrivalled experience, and an outstanding track record of technological innovation.

Gemplus offers an exceptional range of portable, personalized solutions that bring security and convenience to people's lives. These include Mobile Telecommunications, Public Telephony, Banking, Retail, Transport, Identity, WLAN, Pay-TV, e-government, access control, and a wealth of other applications.

Gemplus' revenue in 2003 was 749 million Euros.

GemVentures is Gemplus´ Corporate Venture Capital Fund set up in early 2000. With a fund size of US $75 Million, it aims to boost the smart card industry by investing in start up and young companies with innovative and viable business plan for smart card applications across Europe, the Americas and Asia.

For more information, visit http://www.gemplus.com and http://www.gemventures.com

EDB Ventures Pte Ltd (“EDBV”) is a wholly-owned subsidiary of EDB Investments Pte Ltd (“EDBI”), the investment arm of the Singapore Economic Development Board (“EDB”). It makes strategic investments world-wide focusing on new business-models, technology and knowledge intensive projects that deliver innovative solutions in hardware, software and related services. EDBI manages in excess of US$3 billion and has made investments in over 260 projects.

For more information, visit http://www.edbi.com

W3 Infocomm Group is a focused investment group in information technology, telecommunications and media space. Its shareholders include Greendot Capital Pte Ltd, a 100%-owned eVentures fund of Singapore Technologies Group, and Prime Partners, a US$300m Venture Capital.

For more information, visit http://www.w3ig.com