RELEASE: ALBEDO & TEMASYA EXTEND DEADLINE FOR SIGNING RTO DEAL, ADD TWO MORE LAND PARCELS TO DEAL

- Deadline to reach S& P is now 30 September 2013
- Additional land parcels under negotiation total 157 acres

Singapore, 30 August 2013 ? Albedo Limited, a steel trading company listed
on the Catalist of the Singapore Exchange, announced that the deadline for
agreeing to a reverse takeover deal with Temasya Cergas Sdn Bhd has been
extended from today to 30 September 2013.

Albedo and Temasya said they have today signed a supplemental
agreement to a Memorandum of Understanding (MOU) announced on 16
August 2013. Both parties have agreed to extend the deadline as well as to
include two more land parcels in the MOU for negotiation.

The additional land parcels, also located in Gelang Patah in the
Iskandar region, cover a total area of 157 acres, comprising a 53-acre parcel
and another of 104 acres. The land will be used for industrial, commercial,
and residential mixed property development. It is accessible from Johor Bahru
City via multiple access roads and also via the Tuas Second Link Expressway.

The latest land parcels will increase the total under the MOU to about
919 acres, including the 762 acres announced in the MOU last week. Under
the proposed terms of the MOU, Albedo will pay for the land by allotting and
issuing new ordinary shares to Temasya. This may result in a potential
reverse takeover pursuant to Rule 1015 of Listing Manual (Section B: Rules of
Catalist) of the Singapore Exchange Securities Trading Limited.

Albedo Limited was founded by CEO Tai Kok Chuan in 1988. It is
engaged in general wholesale trade, manufacturing and processing, and
supply and distribution of industrial and engineering raw materials,
instruments, semi-finished and finished products to the iron and steel industry
in the Asia Pacific region. Albedo was listed on the then SGX-SESDAQ in
2006.

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