For Immediate Release

OCTAGON CONSOLIDATED BERHAD (“Octagon”) Octagon Ground Breaking Waste to Energy Plant in Colombo, Sri Lanka

Colombo, 6 October 2011: Octagon Consolidated Berhad’s (“Octagon”) Waste to Energy project (“WTE”) today achieved a major milestone with its ground breaking ceremony held at Karadiyana, Kesbewa, Colombo, Sri Lanka. The ceremony was officiated by the Honourable Mr Prassana Ranatunga, Western Province Chief Minister, Honourable Mr Gamini Lokuge, the Kesbewa Divisional Secretariat and Minister of Labour & Labour Relations and in association with Honourable Mr Patali Champika Ranawaka, the Minster of Power & Energy, and Honourable Mr Anura Priyadharshana Yapa, Minister of Environment and Natural Resources, and representatives of Waste Management Authorities of the Western Province Sri Lanka.

Octagon through its wholly owned subsidiary Green Energy and Technology Sdn Bhd (“GreenTech”) owns 51% in Orizon Consolidated Limited (“OCL”), a joint venture with Tadhamon Capital B.S.C., a Bahrain based investment Company. Orizon Renewable Energy (Private) Limited (“ORE”), a wholly-owned subsidiary of OCL, incorporated in Sri Lanka has received the relevant approvals from the Government of Sri Lanka to Build-Own-Operate the WTE plant. The ceremony began with the traditional lighting of the oil lamp by Mr Mazlan Ali, the Managing Director of Octagon and Chairman of ORE and Siti Fatimah Mohd Shariff, Executive Director of Octagon and Director of ORE.

The USD248 million WTE plant will be using gasification technology capable of destroying up to 1,000 ton/day of local Municipal Solid Waste (“MSW”) and generate a minimum of 40 Mega Watts of electricity which will be sold to Ceylon Electricity Board as announced on 12 September 2011.

Construction for ORE’s WTE Plant is expected to commence in the second quarter of 2012 and completion in the second quarter of 2014. The WTE plant is expected to help Colombo manage its waste effectively through the destruction of MSW to produce electricity for the consumption by the western province of Sri Lanka.

Sri Lankan Government has initiated a renewable energy development through deploying indigenous energy resources with a target of achieving 10% power generation using renewable energy by 2015.

For further comments, contact Ms Thong Fee Shen or Mr Eng Soo Kam at [email protected].