| Part I | ||||||||||||||||||||
| 1. | Date of notice to issuer | 26/03/2008 | ||||||||||||||||||
| 2. | Name of Substantial Shareholder | Woodsville International Limited ("Woodsville") | ||||||||||||||||||
| 3. | Notice Type | Notice of a Change in the Percentage Level of a Substantial Shareholder's Interest or Cessation of Interest. | ||||||||||||||||||
| Part II - Not Required | ||||||||||||||||||||
| Part III | ||||||||||||||||||||
| 1. | Date of change of Deemed Interest | 25/03/2008 | ||||||||||||||||||
| 2. | The change in the percentage level | From 88.91 % To 75.92 % | ||||||||||||||||||
| 3. | Circumstance(s) giving rise to the interest or change in interest | # Others Pursuant to the placement agreement dated 17 March 2008 between the Company, HL Bank (the "Placement Agent") and Surreyville Pte Ltd ("Surreyville"), which was announced on 17 March 2008:- (a) On 24 March 2008, Surreyville had lend 40,000,000 Shares by way of transferring to the end-placees to facilitate the early settlement of the new shares to end-placees procured by the Placement Agent; and (b) On 25 March 2008, the Company had issued 40,000,000 new ordinary shares to Surreyville to complete the placement exercise. |
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| 4. | A statement of whether the change in the percentage level is the result of a transaction or a series of transactions: | A series of transactions. | ||||||||||||||||||
| Part IV | ||||||||||||||||||||
| 1. | Holdings of Substantial Shareholder, including direct and deemed interest : | |||||||||||||||||||
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