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EXHIBIT 4.8 Supplementary Agreement Five

Cooperation Agreement

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This Cooperation Agreement involves

DESWELL INDUSTRIES INC | Joint Venture Corporation

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Title: EXHIBIT 4.8 Supplementary Agreement Five
Date: 7/8/2005
Industry: FABRUB    

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EXHIBIT 4.8

Joint Venture Corporation
“Dongguan Kwan Hong Electronics Company Limited”
Supplementary Agreement Five
(Translation)

Dongguan Cheung On Lan Hong Electronics Development Company (“Original Party A”) and Integrated International Limited (“Party B”) established the joint venture corporation, Dongguan Kwan Hong Electronics Company Ltd (“Joint Venture Corporation”) in Cheung On, Dongguan. The Joint Venture Corporation is approved by the Dongguan Foreign Economic Bureau under the approval document [1997] No.164. The original cooperation agreement and supplementary agreements have been filed with the relevant Commercial and Customs departments for records. For the purpose of business development and with the consent of the Board of Directors, the following supplementary terms are supplemented:

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