MIDAS ENTERS SOUTH KOREAN MARKET - To supply 66 train cars for Incheon International Airport Railroad Project

Singapore, September 11, 2008 – Mainboard-listed Midas Holdings Limited (“Midas”) (麦达斯控股有限公司) announced today that its Aluminium Alloy Division, Jilin Midas Aluminium Industries Co., Ltd (“Jilin Midas”) (吉林麦达斯铝业有限公司), has successfully secured a contract worth Euro 2.35 million (approximately S$4.73 million) to supply aluminium alloy extrusion profiles for 66 train cars for Incheon International Airport Railroad Project in South Korea.

Awarded by Hyundai Rotem Company, this contract marks Midas’ first foray into the South Korean market, and yet another milestone in the Group’s international market expansion efforts. “We are very excited to be able to break new ground in the South Korean market and expand our market presence outside of China. This contract is yet another testament to the international recognition accorded to the quality of our products and services.

Moving forward, we will continue to strengthen the international presence of our products and services as well as grow our global export orders,” said Mr Patrick Chew (周华光), CEO of Midas.The contract is expected to be fulfilled in 2009, and is, therefore, expected to contribute positively to the Group’s financials for the financial year ended December31, 2009.