Yantai North Andre Juice Co., Ltd. : Voluntary Announcement (08/01/2012)

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whole or any part of the contents of this announcement.

ANNOUNCEMENT

This announcement is made on a voluntary basis.
On 14 December 2011, Yantai North Andre Juice Co., Ltd.* (the "Company") received a notice of arbitration (the "Arbitration Notice") issued by the ICC International Court of Arbitration (the "Court"). According to the Arbitration Notice, Agrana Juice Holding GmbH (previously known as Agrana Juice GmbH) ("Agrana") submitted an arbitration application (the "Arbitration Application") in respect of a dispute arising from an Allocation Agreement dated 14 January 2011 between the Company and Agrana relating to the purchase of the apple juice concentrate. In the Arbitration Application, Agrana requests for a sum of USD 9,785,656 (equivalent to RMB 64,551,079) in damages from the Company. The Company will file an answer to the claim and a counterclaim against Agrana as soon as possible.
The Company considers that it has reasonable defence to the claim and will put forward a substantiated counterclaim. Based on the understanding of the dispute and the proposed counterclaim against Agrana, the Board believes the Arbitration Application is unlikely to have material impact on the financial position of the Group.
The Company will publish further announcement(s) as and when required under the Listing
Rules.
By order of the Board Yantai North Andre Juice Co., Ltd.* Wang An
Chairman
Yantai, the PRC, 6 January 2012

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As at the date hereof, the Board comprises:
Mr. Wang An (Executive Director)
Mr. Zhang Hui (Executive Director)
Mr. Lin Wu-Chung (Non-executive Director) Mr. Liu Tsung-Yi (Non-executive Director) Mr. Jiang Hong Qi (Non-executive Director)
Ms. Yu Shou Neng (Independent non-executive Director)
Ms. Qu Wen (Independent non-executive Director)
Mr. Gong Fan (Independent non-executive Director)
Mr. Chow Kam Hung (Independent non-executive Director)

* For identification purpose only.

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