Mercantile Ports & Logistics Regulatory News (MPL)

2 December 2015

SKIL Ports & Logistics Limited

("SPL" or the "Company")

Project Update

SKIL Ports & Logistics (SPL) is pleased to provide the following update in regard to the development of its port and logistics project in Navi, Mumbai, India. Onsite reclamation work continues to progress, and the Company confirms completion of the 300 metre bund to allow the new piling gantry to be erected at the point where the quay wall will commence.

All parts of the gantry are scheduled to be in position within the next three weeks, with reclamation work continuing in parallel. SPL's engineers have reported 10 hectares have been reclaimed to date.

The Company website www.skilpl.com/news.html has been updated with recent photographs and the Company will continue to update its web site on a regular basis.