Semi-Tech Corporation - Interim Motion Dismissed.

TORONTO--(BUSINESS WIRE)--April 29, 1999--

Semi-Tech Corporation ("Semi-Tech") (TSE:SEM.A)(TSE:SEM.B) announced that the Ontario Superior Court of Justice dismissed today a motion for an injunction in an application brought by Enterprise Capital Management Inc. ("Enterprise").

The motion was brought to restrain Semi-Tech from exercising its rights as a shareholder of The Singer Company N.V. and of Semi-Tech (Global) Company Limited ("Global") without prior leave of the Court. In its application, Enterprise referred to two proposed transactions involving subsidiaries of Global. In dismissing the motion, the Court noted that no action was required by Semi-Tech in respect of one of the proposed transactions and that, in respect of the other proposed transaction, there was no evidence that it would have any detrimental effect upon Semi-Tech or its stakeholders.

With regard to the pending application brought by Enterprise under the Companies' Creditors Arrangement Act, the Court stated that a decision is expected to be released early next week.

Semi-Tech Corporation is a Canadian-based multinational company engaged in the global marketing and distribution of consumer products for the home, principally through its subsidiaries and affiliates. Semi-Tech's shares are listed on the Toronto Stock Exchange (Class A: SEM.A; Class B: SEM.B).