I believe that the 39.90 price is meant to "chop" tourists or unwary customers. By way of analogy, their lowepro bags can sell for 1/2 the price (or less with some haggling) of the retail price tag.
The last time I got my Lenspen propack 1 from CP, they sold it to me for S$25.
As for the Lenspen cloth, I only use it for wiping my LCD monitor and nothing else. This is because it tends to leave loose cloth fibres behind when you use it for cleaning purposes.