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NOTICE OF A CHANGE IN THE PERCENTAGE LEVEL OF A SUBSTANTIAL SHAREHOLDER'S INTEREST

BackAug 19, 2009

Part I

Date of notice to issuer

18/08/2009

Name of Substantial Shareholder

Woodsville International Limited

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

Date of change of Deemed Interest

17/08/2009

The change in the percentage level

From 68.62 % To 50.56 %

Circumstance(s) giving rise to the interest or change in interest

# Others

(1) Issue of 15,000,000 shares in the capital of the Company at the issue price of S$0.80 per share, in consideration of the conversion of loans amounting to an aggregate S$12 million owing to Surreyville Pte Ltd ("Surreyville") by the Company (the "Debt Conversation Shares").

(2) Issue of 112,500,000 Consideration Shares at the issue price of S$0.80 per share, being satisfaction of part purchase consideration payable by the Company to Tan Sri Datuk Sir Tiong Hiew King and Tiong Kiu King (the "Vendors") for the acquisition of the entire share capital of Kingworld Resources Limited. The Consideration Shares were allotted to Sharptone Investments Limited ("Sharptone"), an investment holding company nominated by the Vendor. The entire share capital of Sharptone is held by the Vendors in equal proportion.

A statement of whether the change in the percentage level is the result of a transaction or a series of transactions:

Series of transactions.

Part IV

Holdings of Substantial Shareholder, including direct and deemed interest :

	Direct	Deemed
No. of shares held before the change	0	187,889,486
As a percentage of issued share capital	0 %	68.62 %
No. of shares held after the change	0	202,889,486
As a percentage of issued share capital	0 %	50.56 %
Footnotes	(1) Woodsville International Limited, the holding company of Surreyville, is deemed interested in Surreyville's shareholding in the Company. (2) The percentage of issued share capital before change is based on the issued share capital of 273,821,443 shares (before the issue of the Debt Conversion Shares and the Consideration Shares). (3) The percentage of issued share capital after change is based on the Company's enlarged share capital of 401,321,443 shares.