News

 18:37:05

FETL's subsidiary Far Eastern Polytex (H) Ltd. announces acquiring shares of Wuhan Far
Eastern New Material Ltd.

1.Name and nature of the subject matter (if preferred shares, the terms and conditions of issuance
shall also be indicated, e.g.dividend yield):shares of Wuhan Far Eastern New Material Ltd.

2.Date of occurrence of the event:2009/08/04

3.Volume, unit price, and total monetary amount of the transaction:

NA, NA, total price USD10,000,000

4.Counterpart to the trade and its relationship to the Company (if the trading counterpart is a
natural person and furthermore is not an actual related party of the Company, the name of the
trading counterpart is not required to be disclosed):
Wuhan Far Eastern New Material Ltd. ;Equity method investee

5.Where the counterpart to the trade is an actual related party,a public announcement shall also
be made of the reason for choosing the related party as trading counterpart and the identity of
the previous owner (including its relationship with the company and the trading counterpart), price
of transfer, and date of acquisition:
Cash capital increase;Nil

6.Where a person who owned the property within the past five years has been an actual related
person of the company, a public announcement shall also include the dates and prices of
acquisition and disposal by the related person and the person’s relationship to the company
at those times:Nil

7.Matters related to the creditor's rights currently being disposed of (including types of collateral
of the disposed creditor's rights;if the creditor's rights are creditor's rights toward a related
person, the name of the related person and the book amount of the creditor's rights toward such
related person currently being disposed of must also be announced):NA

8.Anticipated profit or loss from the disposal (not applicable in cases of acquisition of securities)
(where originally deferred, the status or recognition shall be stated and explained):NA

9.Terms of delivery or payment (including payment period and monetary amount), restrictive
covenants in the contract, and other important stipulations:Cash/Nil/Nil.

10.The manner in which the current transaction was decided, the reference basis for the decision
on price, and the decision-making department:Cash capital increase, The BOD's resolution.

11.Current cumulative volume, amount, and shareholding percentage of holdings of the security
being traded (including the current trade) and status of any restriction of rights (e.g.pledges):
NA; USD23,656,141.72; 93%; Nil

12.Current ratio of long or short term securities investment (including the current trade) to the total
assets and shareholder's equity as shown in the most recent financial statement and the operating
capital as shown in the most recent financial statement:
112.49%; 112.49%; USD742,660

13.Broker and broker's fee:NA

14.Concrete purpose or use of the acquisition or disposition:
to increase investment.

15.Net worth per share of company underlying securities acquired or disposed of:NA

16.Do the directors have any objection to the present transaction?:Nil.

17.Has the CPA issued an opinion on the unreasonableness of the price of the current
transaction?:Nil

18.Any other matters that need to be specified:Nil.