China Energy Storage Technology Development Limited — Capital/Financing Update 2011

Feb 21, 2011

Unless otherwise defined herein, terms used in this announcement shall have the same meanings as those defined in the prospectus dated 14 January 2011 (the “ Prospectus ”) issued by Telefield International (Holdings) Limited (the “ Company ”).

Hong Kong Exchanges and Clearing Limited, The Stock Exchange of Hong Kong Limited (the “ Stock Exchange ”) and Hong Kong Securities Clearing Company Limited take no responsibility for the contents of this announcement, make no representation as to its accuracy or completeness and expressly disclaim any liability whatsoever for any loss howsoever arising from or in reliance upon the whole or any part of the contents of this announcement.

This announcement is for information purposes only and does not constitute an invitation or an offer to induce an offer by any person to acquire, purchase or subscribe for securities of the Company. This announcement is not, and is not intended to be, an offer of securities of the Company for sale in the United States. Securities of the Company may not be offered or sold or delivered within the United States absent of registration or an exemption from registration under the United States Securities Act of 1933, as amended. There is not and is not currently intended to be any public offer of the Company’s securities in the United States.

TELEFIELD INTERNATIONAL (HOLDINGS) LIMITED 中慧國際控股有限公司

(incorporated in the Cayman Islands with limited liability)

(Stock Code: 1143)

STABILISATION ACTIONS, END OF STABILISATION PERIOD AND LAPSE OF OVER-ALLOTMENT OPTION

END OF STABILISATION PERIOD

The Company announces that the stabilisation period in connection with the Share Offer ended on Friday, 18 February 2011.

STABILISATION ACTIONS

The stabilisation actions undertaken during the stabilisation period were:

• (i) over-allocations of an aggregate of 15,000,000 Shares made in relation to the Placing, representing 15% of the Offer Shares initially offered under the Share Offer before any exercise of the Over-allotment Option;

• (ii) a borrowing of an aggregate of 15,000,000 Shares by China Merchants Securities from Dragon Fortune pursuant to the Stock Borrowing Agreement to cover the above over-allocations;

• (iii) successive market purchases of an aggregate of 3,286,000 Shares at a price in the range of HK$1.10 to HK$1.20 per Share (exclusive of brokerage, SFC transaction levy and Stock Exchange trading fee) during the stabilisation period, representing approximately 3.29% of the Offer Shares initially offered under the Share Offer before any exercise of the Over-allotment Option; and

• (iv) partial exercise of the Over-allotment Option by China Merchants Securities on 18 February 2011 in respect of 11,714,000 Shares representing approximately 11.71% of the Offer Shares initially offered under the Share Offer before any exercise of the Over-allotment Option.

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This announcement is made pursuant to section 9(2) of the Securities and Futures (Price Stabilising) Rules (Chapter 571W of the Laws of Hong Kong). The Company announces that the stabilisation period in connection with the Share Offer ended on Friday, 18 February 2011, being the 30th day after the last day for the lodging of applications under the Public Offer.

STABILISATION ACTIONS

The stabilisation actions undertaken during the stabilisation period were:

• (i) over-allocations of an aggregate of 15,000,000 Shares made in relation to the Placing, representing 15% of the Offer Shares initially offered under the Share Offer before any exercise of the Over-allotment Option;

• (ii) a borrowing of an aggregate of 15,000,000 Shares by China Merchants Securities from Dragon Fortune pursuant to the Stock Borrowing Agreement to cover the above overallocations;

• (iii) successive market purchases of an aggregate of 3,286,000 Shares at a price in the range of HK$1.10 to HK$1.20 per Share (exclusive of brokerage, SFC transaction levy and Stock Exchange trading fee) during the stabilisation period, representing approximately 3.29% of the Offer Shares initially offered under the Share Offer before any exercise of the Over-allotment Option; and

• (iv) partial exercise of the Over-allotment Option by China Merchants Securities on 18 February 2011 in respect of 11,714,000 Shares representing approximately 11.71% of the Offer Shares initially offered under the Share Offer before any exercise of the Overallotment Option.

The last purchase in the course of stabilising actions was made on 18 February 2011 at the price of HK$1.11 per Share.

As a result of the partial exercise of the Over-allotment Option by China Merchants Securities, the Company allotted and issued an aggregate of 11,714,000 Shares (the “ Over-allotment Shares ”), representing approximately 11.71% of the Offer Shares initially available under the Share Offer, at the Offer Price of HK$1.20 per Share (excluding brokerage fee of 1%, Stock Exchange trading fee of 0.005% and SFC transaction levy of 0.003%). The Over-allotment Shares, together with an aggregate of 3,286,000 Shares purchased in the market during the stabilisation period, were used to facilitate the return in full to Dragon Fortune of 15,000,000 borrowed Shares which were used solely to cover re-allocation in the Placing.

Details of the partial exercise of the Over-allotment Option are more particularly described in the announcement of the Company dated 18 February 2011.

LAPSE OF OVER-ALLOTMENT OPTION

The Company has also been informed and further announces that the portion of the Overallotment Option which has not been exercised during the stabilisation period was lapsed on 18 February 2011.

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The Company continues to comply with the public float requirements under Rule 8.08(1)(a) of the Listing Rules. No new Shares or securities convertible into equity securities of the Company may be issued within six months from the Listing Date save for the situations as set out in Rule 10.08 of the Listing Rules.

By order of the Board of Telefield International (Holdings) Limited Cheng Han Ngok Steve Chairman

21 February 2011, Hong Kong

As at the date of this announcement, the executive Directors are Cheng Han Ngok Steve, Poon Ka Lee Barry, Ng Kim Yuen, Fok Pui Yin and Lee Kai Bon, and the independent non-executive Directors are Au-Yang Cheong Yan Peter, Kwan Pun Fong Vincent and Xue Quan.

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