Paramit Corporation Announces Agreement to Buy Lemtronics

MORGAN HILL, CALIF. October 10, 2011 - Paramit Corporation, a provider of medical devices and instrument manufacturing services, today reported that it has entered into an agreement with Lemarne Corporation Limited (ASX:LMC) to purchase its Malaysian-based manufacturing organization, Lemtronics.

The sale is subject to the approval of Lamarne’s shareholders, which will be sought at a general meeting of the Company sometime in mid to late November 2011.

Commenting on the proposed acquisition, Paramit CEO Billoo Rataul said,

“The acquisition of Lemtronics gives Paramit Corporation a vehicle to offer medical device and instrument manufacturing services to our current and future customers in the Asian and European markets. We are very excited about the acquisition, and see a tremendous potential to serve our customers world-wide.”

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