Graphene Nanochem Regulatory News (GRPH)

Biofutures International plc

("Biofutures" or the "Company")

Arbitration Update

31 August 2010

Biofutures announces that the arbitration hearing in relation to the dispute between the Company's wholly-owned subsidiary, Zurex Corporation Sdn Bhd ("Zurex"), and JJ-Lurgi Engineering Sdn Bhd ("Lurgi") has concluded after all witnesses were heard.

Following the hearing, the Arbitrator, Tan Sri Abdul Aziz Bin Mohamad, has ordered that Zurex must file a written submission on or before 22 November 2010, Lurgi must file its written submission on or before 31 January 2001 and Zurex must then file a submission in reply on or before 16 March 2011. Clarification before the Arbitrator will then take place on 3 May 2011, at which point the Arbitrator will either seek further elaboration on any issues raised or deliver his award.

The Company will provide further updates as the arbitration procedure progresses.

For further information please contact: