OPP.L Regulatory News (OPP)

November 4, 2011

Origo Partners PLC

Interim Management Statement for the three month period from

July 1, 2011 to September 30, 2011

This Interim Management Statement by Origo Partners Plc ("Origo" or "the Company") and its subsidiaries ("the Group") relates to the three month period from July 1, 2011 to September 30, 2011 ("the Period").

Highlights from the Period:

·; Unaudited net asset value of US$215.4 million compared to US$225.1 million for the period ending June 30, 2011 due principally to the movement of fair market value of quoted investments and currency movements

·; Unaudited net asset value per share of US$0.72 at the end of the Period compared to US$0.76 per share for the period ending June 30, 2011

·; Total investments of US$26.1 million

·; Net cash position of US$21.4 million

Chris Rynning, Origo's CEO, said:

"The Chinese economy continues to perform in line with our expectations with strong domestic demand supported by robust public finances and as a result we remain committed to our investment strategy. During the Period we made a follow-on investment of US$10 million in China Rice, giving us increased exposure to Chinese consumer markets."

"Our investments in Mongolia continue to progress well, and recent events have shown that the Government remains committed to supporting the equitable development of the country's natural resourcesector. The creation ofKincora Copperin July is particularly exciting for Origo, enabling us to combine our stake in a very promising Mongolian copper/gold project with a very experienced management team and create a listed company that has the potential to deliver significant value."

"During Q3, we continued to build our asset management business through the successful launch of two new, innovative funds targeting Chinese cleantech companies and Mongolia respectively. We continue to develop further asset management opportunities and expect the management of third party investment vehicles to become an increasing part of our business."

1. Resources and Commitments

At September 30, 2011, Origo had cash and cash equivalents of US$24.3 million. Payables to debtors and other liabilities equaled US$2.9 million, leaving the Group with a net cash position of US$21.4 million.

2. Unaudited Net Asset Value

No revaluation of the Portfolio took place during the Period as per Origo's policy to reassess the value of the Company's assets on a bi-annual basis. However, adjusting to reflect the purchase and sale of investments, currency movements and market values in respect of quoted investments, the Company estimates unaudited net asset value at the end of the Period was US$215.4 million (US$0.72/share). The equivalent NAV per share translated into British Sterling at the prevailing exchange rate at the end of the Period was 46.2p compared to 47.2p for the period ending June 30, 2011. The decrease in NAV was due to interest accrued (US$1.0 million) to the zero-dividend convertible preference shares, and the movement of fair market value of quoted investments (US$5.2 million) and currency movements (US$4.5 million).

3. Portfolio composition

In line with the Group's strategy, investments are made predominately in privately held companies across various sectors of China's economy, and in companies and assets with exposure to the Chinese market, with the objective of providing shareholders with above market returns, primarily through capital appreciation. Currently, the Group focuses on two sectors: natural resources (comprising metals, mining and agriculture) and clean tech.

As at September 30, 2011, the Portfolio was carried at the aggregate value (excluding revaluations of unquoted portfolios) of US$240.0 million compared to US$222.6 million for the period ending June 30, 2011. The top ten investments represented 88 per cent of the fair value of the Portfolio, with the top five accounting for 65 per cent.

Table 1: Top 10 Investments (US$ million)

* Legal & beneficial interests, excluding impact of outstanding options/warrants and any outstanding convertible instruments

** A private equity fund focusing on China's cleantech sectors, jointly formed and co-managed by the Group and Ecofin Limited

Reflecting the Group's strategy of investing in privately held companies, 89 per cent of the Portfolio (in terms of fair value) at the end of the Period was invested in unquoted portfolio companies. The Company's holding in listed companies comprised the Company's stake in AIM-listed HaloSource Inc. (LSE: HAL), TSX Venture Exchange listed Kincora Copper Limited (TSXV: KCC), ASX listed Voyager Resources Ltd (ASX: VOR), a minor position in Weka Entertainment, listed on NYSE Alternext (ALWEK.NX), and other quoted investments held by China Commodities Absolute Return Ltd ("CCF"), a commodities hedge fund managed by the Group.

The weighted average holding period is 2.6 years, with 75 per cent of the Portfolio having been held for less than 3 years; 17 per cent having been held for 3-4 years, and 8 per cent for 4 years or longer.

In terms of sectors, the composition of the Portfolio at the end of Period comprised:

Metals & Mining (58 per cent)

Agriculture (21 per cent)

Clean tech (17 per cent)

Consumer, Technology and Media (4 per cent).

4. Investments

Origo invested a total of US$26.1 million during the period, comprising US$20.7 million of investments in new portfolio companies, and US$5.4 million of deployments to existing investee companies.

In July and August 2011, the Company advanced further loans with the amount of US$170,000 to Smartron 5 Inc.

In August 2011, the Company announced a follow on investment of US$10 million in China Rice Ltd in the form of convertible notes, of which two tranches, each of US$5 million, was disbursed in August and October following the Period end, respectively.

In August and September 2011, the Company acquired 39,922,002 ordinary shares in ASX listed Voyager Resources Ltd ("Voyager Resources"), representing 4.1 per cent of the issued share capital of Voyager Resources, for a consideration of US$4.2 million.

Origo launched the MSE (Mongolian Stock Exchange) Liquidity Fund ("the MSE Fund") in September. The MSE Fund will provide investors with exposure to: the largest companies listed on the MSE; high interest savings deposit rates on offer at Mongolian commercial banks of up to 15 per cent; and 100 per cent exposure to the Mongolian Tugrik. The MSE Fund will be managed by Origo Asset Management Ltd, a subsidiary of Origo Partners Plc, with day to day activities carried out by Luke Leslie, Head of Mongolia and Mining Investments at Origo, and Eric Zurrin, CEO of ResCap, who both have a successful track record in investing in and advising Mongolian companies.

In September, the Company announced the formation of China Cleantech Partners, L.P. ("CCP"), a US$200 million private equity fund which will invest in China's cleantech sectors. Origo and Ecofin Water & Power Opportunities plc, a UK investment trust managed by Ecofin Limited ("Ecofin"), have each made an initial commitment of US$15 million to CCP (approximately RMB 97 million), of which US$12.5 million was advanced by Origo in July. CCP is expected to reach an initial closing later this year when it has achieved US$75 million in partnership commitments.

5. Portfolio updates

Kincora Copper Limited

Following the completion of Toronto-listed Brazilian Diamonds Ltd acquiring Origo's interest in Kincora Group Ltd, subsequently renamed to Kincora Copper Ltd ("Kincora Copper"), and Kincora Copper acquiring the remaining 25 per cent interest in Kincora Group Ltd, the Group holds approximately 33 per cent of the outstanding share capital of Kincora Copper.

China Rice Ltd

In August 2011, the Company announced that it had made a follow-on investment of up to US$10 million in China Rice Ltd ("China Rice"). Prior to the Period the Company made an initial investment of US$13 million and at the same time were granted the option to invest an additional US$10 million in the form of convertibles notes into equity subject to certain financial conditions being met. Agreements to affect the subscription of the loans have been completed and advanced to China Rice.

China Rice will use the proceeds of the financing as procurement funding to lock in supplies of paddy-rice at favorable prices in preparation for the high season (November to March).

Smartron 5 Inc.

In October, the Company announced the acquisition of Smarton 5 Inc. ("S5"), a Beijing-based social gaming company focused on developing high quality social games with deeper game play experiences for Asian and international social networks, in which Origo held an 36 per cent equity stake, by 6waves Lolapps ("6waves"), a leading global social and mobile game developer and publisher with significant venture capital backing.

Origo will retain an equity stake in the combined company.

ENDS