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POLYTEC ASSET HOLDINGS LIMITED

(incorporated in the Cayman Islands with limited liability)
(Stock Code: 208)

ANNOUNCEMENT

The crude oil production of the South Alibek Oilfield of Caspi Neft TME in Kazakhstan has been temporary suspended since 1 January 2013.

The board of directors (the "Board") of Polytec Asset Holdings Limited (the "Company") announces that the crude oil production of the South Alibek Oilfield of Caspi Neft TME, a wholly-owned subsidiary of the Company, in Kazakhstan has been temporary suspended since 1 January 2013, as the gas flaring permit for the South Alibek Oilfield was expired on
31 December 2012. Caspi Neft TME has applied to the Kazakhstan Government for the gas flaring permit for 2013 in October 2012. Up to now, the approval has not yet been obtained. It is expected that feedbacks from the Kazakhstan Government will be received within one month. The production will be resumed immediately after the permit is obtained.
By Order of the Board Or Wai Sheun Chairman
Hong Kong, 3 January 2013
As at the date of this announcement, Mr. Or Wai Sheun (Chairman), Mr. Yeung Kwok Kwong, Ms. Wong Yuk Ching, Mr. Lam Chi Chung, Tommy and Ms. Chio Koc Ieng are executive directors of the Company, Mr. Lai Ka Fai and Ms. Or Pui Ying, Peranza are non-executive directors of the Company and Mr. Liu Kwong Sang, Mr. Siu Leung Yau, Dr. Tsui Wai Ling Carlye and Prof. Dr. Teo Geok Tien Maurice are independent non-executive directors of the Company.

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