Reference is made to the announcements dated 10 October 2011, 11 October 2011, 12 October 2011 and 28 February 2012 in respect of the Proposed Subscription.

AsiaEP had on 28 February 2012, issued a letter to LPB for LPB to remedy a breach pursuant to Clause 7.6 of the  Subscription Agreement dated 10 October 2011, failing which the Proposed Subscription shall be deemed terminated, fourteen (14) business days herefrom.

However, as of on this date upon fourteen (14) business days from the above-mentioned date, LPB still failed to remedy the breach.

As such, due to the above, AsiaEP having no alternative but as on this date, issued another letter to LPB for demanding the refund of RM2,000,000/= (Ringgit Malaysia Two Million) deposit placed with LPB pursuant to the Clause 9.2(b) of the Subscription Agreement.

AsiaEP will make the follow-up announcements should there be any new developments.

This announcement is dated 19 March 2012.