ADDVALUE SECURED A NEW ORDER

FOR SEVERAL MORE IDRS TERMINALS

The Board of Directors of Addvalue Technologies Ltd (the "Company") is pleased to announce that its wholly owned subsidiary, Addvalue Innovation Pte Ltd ("AVI") has secured a new order for several more IDRS terminals worth well over US$1 million. Due to non-disclosure obligations, the Company is constrained from disclosing further details about the new order at this juncture. Further details concerning the new order will be released as soon as when the Company is freed of its non-disclosure obligations.

The Company is pleased with the progress made thus far by its IDRS-related business, in particular, the commencement of the generation of IDRS airtime revenue and the build-up since then of this important recurring revenue stream as more and more IDRS terminals are being commissioned for commercial service in space. The Company expects to receive more IDRS-related orders for the next 12 months and beyond.

Save for their respective interests in the share capital of the Company, none of the Directors or the substantial shareholders of the Company have any interest, directly or indirectly, in the new order.

BY ORDER OF THE BOARD

Dr Colin Chan Kum Lok

Chairman & CEO

23 March 2021

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Addvalue Technologies Limited published this content on 23 March 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 20 April 2021 01:47:07 UTC.