CORPORATE ANNOUNCEMENT

Date : 22 Feb 2010

AGC POWER (INDIA) PVT LTD:

We, the Directors of AGC Power (India) Pvt Ltd (AGCP) hereby confirm and declare that as of today (22nd February 2010) the shares of AGCP have not been sold or parted with and the Directors and Shareholders remain the same as of this date. Whatever Agreements / MOU / MOA executed are hereby terminated and have no effect whatsoever.

Those who wishes to clearify may contact the Executive Chairman Mr Ho Seng Kung at 006-019-3940396 or the Director Mr P. Selvaraj at 006-013-33272350.