Oriental Explorer Holdings Limited — M&A Activity 2000

Mar 15, 2000

Listed Company Information

QPL INT'L<0243> - Announcement QPL INTERNATIONAL HOLDINGS LIMITED ANNOUNCEMENT The Board of Directors of QPL has been informed by ASAT, its associated company, that ASAT has commenced work on a proposed initial public offering of its shares on NASDAQ in accordance with the stated intentions of its shareholders. This announcement is made by QPL International Holdings Limited ("QPL") pursuant to paragraph 2(1) of the Listing Agreement. At the time of the major transaction of QPL relating to the investment in ASAT by, amongst others, Chase Asia Equity Partners, it was announced that the parties to the shareholders agreement in respect of ASAT, being the shareholders of ASAT, entered into at completion of such investment, had agreed to cause ASAT to use its best endeavours to effect an initial public offering of its shares on NASDAQ or another internationally recognised stock exchange. QPL currently owns shares representing 50% of the issued share capital of ASAT, making it an associated company of QPL. Accordingly, QPL does not control ASAT. The Board of Directors of QPL has been informed by ASAT that it has commenced work on a proposed initial public offering of its shares in accordance with the stated intention. Although matters are at an early stage, it is currently anticipated that the initial public offering will take place by the end of the second quarter of this year. However, there can be no assurance that an initial public offering will be effected. This announcement shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of these securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction. Further announcements will be released by QPL as and when appropriate. In the meantime, investors should exercise caution when dealing in the shares of QPL. Made by Order of the Board of QPL, the directors of which individually and jointly accept responsibility for the accuracy of this announcement. By Order of the Board QPL International Holdings Limited Li Tung Lok Chairman 14th March, 2000