Z-OBEE HOLDINGS LIMITED

(Incorporated in the Bermuda)

(Company registration number: 39519)

PROPOSED DUAL PRIMARY LISTING ON THE MAIN BOARD OF

THE STOCK EXCHANGE OF HONG KONG LIMITED BY WAY OF PUBLIC OFFER AND PLACEMENT

Reference is made to the announcements of Z-Obee Holdings Limited (the "

The board of directors of the Company wishes to announce that the revised application documents in relation to the proposed HK Listing involving an offer of up to 78,000,000 new Shares to be issued by the Company and certain number of existing Shares currently owned by Ms. Wang Tao (a Director and a substantial shareholder of the Company) in Hong Kong by way of public offer and placement ("

As the proposed HK Listing involving the Share Offer is different from the earlier proposed HK Listing by introduction, the Directors intend to convene another special general meeting to seek the approval of the Shareholders for, inter alia, the proposed HK Listing, on 11 February 2010.

In the meantime, the process of transfer of Shares between the share transfer agent of the Company in Singapore and Hong Kong has been restarted. Any Shareholders who would like to transfer their Shares to the share transfer agent of the Company in Hong Kong for trading of Shares in Hong Kong after the proposed HK Listing can contact Tricor Barbinder Share Registration Services (a division of Tricor Singapore Pte. Ltd.), the share transfer agent of the Company in Singapore, whose address is #11-00 PwC Building 8 Cross Street Singapore 048424.

Further announcement(s) in relation to the progress of the HK Listing will be made as and when appropriate.

Shareholders and potential investors should note that as the proposed HK Listing is subject to the approval of SEHK and relevant authorities and the approval of the Shareholders at a special general meeting, the proposed HK Listing may or may not occur. Shareholders and potential investors are therefore reminded to exercise caution when dealing in the Shares.

BY ORDER OF THE BOARD

Wang Shih Zen

Chairman and Chief Executive Officer

19 January 2010 Company") dated 20 August 2009, 23 September 2009, 28 September 2009, 4 December 2009, 18 December 2009, 22 December 2009, 30 December 2009, 8 January 2010 and 14 January 2010 respectively and the circular of the Company despatched on 7 December 2009 in relation to the dual primary listing of the ordinary shares of the Company ("Shares") on the main board of The Stock Exchange of Hong Kong Limited ("SEHK") ("HK Listing"). Share Offer"), have been submitted to the SEHK on 19 January 2010.