PROPOSED ACQUISITION OF 60% EQUITY STAKE IN CLS HOLDINGS PTE. LTD.
We refer to the announcement of the Company dated 1 April 2008 on the subject matter above and the subsequent discussions on the extension of the non-binding memorandum of understanding (the “MOU”) with Chua Lai Seng (the “Vendor”). The Board of Directors (the “Board”) wishes to announce that after considering the merits of the request from the Vendor and the interests of the Company, the Board had decided to allow the MOU to lapse and not to extend the exclusivity period which ends on 31 March 2008.
BY ORDER OF THE BOARD
Lee Quang Loong
Company Secretary
Date: 22 April 2008
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