ICO Group Limited — Capital/Financing Update 2011

Jan 14, 2011

Hong Kong Exchanges and Clearing Limited and The Stock Exchange of Hong Kong 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.

(Incorporated in Bermuda with limited liability)

(Stock Code : 630)

LAPSE OF PLACING AGREEMENT

The Placing Agreement has lapsed on 14 January 2011, being the Extended Long Stop Date of the Placing Agreement. No new shares will be issued by the Company under the Placing Agreement accordingly. The Directors are of the view that the lapse of the Placing Agreement will not cause any immediate material adverse impact on the current operations and financial position of the Company.

Reference is made to (i) the announcement of the Guojin Resources Holdings Limited (the “ Company ”) dated 15 December 2010 (the ‘ ‘Announcement ’’) in relation to placing of a maximum of 300,750,101 Placing Shares by the Placing Agent on a best effort basis at a price of HK$0.234 per Placing Share; and (ii) the announcement of the Company dated 31 December 2010 in relation to the extension of the Long Stop Date of the Placing from 31 December 2010 to 14 January 2011 (the “ Extended Long Stop Date ”). Capitalized terms used in this announcement shall have the same meanings as those defined in the Announcement unless otherwise stated.

The Placing Agreement has lapsed on 14 January 2011, being the Extended Long Stop Date of the Placing Agreement. No new shares will be issued by the Company under the Placing Agreement accordingly.

• For identification purposes only

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The Directors are of the view that the lapse of the Placing Agreement will not cause any immediate material adverse impact on the current operations and financial position of the Company.

By order of the Board Guojin Resources Holdings Limited Yip Wai Lun, Alvin Chairman and Managing Director

Hong Kong, 14 January 2011

As at the date of this announcement, Mr. Yip Wai Lun, Alvin, Mr. Ma Bo Ping, Mr. Zhou Yu Sheng, Ms. Lam Suk Ling, Shirley and Mr. Lee Cheuk Yin, Dannis are the Executive Directors and Mr. Leung Ka Kui, Johnny, Mr. Chan Kam Kwan, Jason and Mr. Lau Man Tak are the Independent Non-executive Directors.

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