OPP.L Regulatory News (OPP)

31 May 2007 11:32

Origo Sino-India PLC31 May 2007 RNS & MEDIA RELEASEMay 31, 2007 ORIGO CONTINUES PORTFOLIO DEVELOPMENT Issues convertible note to Dragon Ports Ltd Origo Sino-India PLC ("Origo")(LSE:OSI), the investment and strategic advisorycompany focused on the private equity markets of China and India,announced today that it has issued convertible notes in the total amount ofUS$115,000 in favor of Dragon Ports Ltd ("Dragon Ports" or "the Company"), acompany in which Origo is already an early stage strategic shareholder with 25% of the equity. Dragon Ports is a Beijing-based mobile telephony engineering firm established to meet the growing needs for qualified and reliable mobile porting and qualityassurance services. The Company offers participants in the mobile value-chainthe opportunity to reduce cost and streamline operations by placing off-shorethe porting, testing and optimization elements of the application developmentcycle. Since its' establishment in the early spring of 2006, Dragon Ports hasbeen retained by several industry leaders including Vivendi Games Mobile, Kiloo,PlayerX and Linktone (NASDAQ: LTON). Origo's bridge financing for Dragon Ports will be drawn down in installments and is repayable in full in the event of a financing round or convertible into equity at the discretion of Origo at a 35% discount to the then applicable price per share. The issue of this convertible loan brings the amount of equity linked notes issued by Origo to its portfolio since its IPO in December 2006 to just above US$2,000,000. The value of equity investments made since that date currently stands at US$8,500,000. Origo's CEO, Chris Rynning, said: "Our research indicates that there are untapped opportunities in the mobile outsourcing market, not only for application development but also for porting, quality assurance and related services. Dragon Ports has done a great job in proving this concept by securing repeat contracts from brand-name customers. This bridge facility will allow the Company to sustain its momentum." Ori Elraviv, CEO of Dragon Ports, concluded: "We see a growing demand for the customization, optimization and testing of mobile applications. We are very pleased that Origo share our faith in this market opportunity." END For further information please call: Christopher Joll/Tim McCall, MJ2 020 7491 7776 Notes to Editors 1. Origo Sino-India plc ("Origo"): • Origo is an established and profitable private equity investor and strategic consultancy business, which provides its shareholders with exposure to growth opportunities and private equity returns in China and India. • Origo's business model is to generate capital gains from private equity investment in growth companies from which it also generates fees for consultancy services related to further fundraisings, M&A and strategic development. • Origo is aligned with two major institutions which provide a source of high quality deal flow. In China, Origo work closely with China Equity, a leading private equity firm, whose chief executive is on Origo's board. In India, Origo has entered into a memorandum of understanding with SBI Capital Markets, one of longest established companies in the Indian Capital Markets. A former chairman of SBI is on the board of Origo. • At the AIM Placing in December 2006 Origo raised £12.8 million gross of new money via a placing of 25,673,238 Ordinary Shares at 50 pence per share. Each Ordinary Share carries a Warrant exercisable at 55p. Seymour Pierce Ltd is the nominated adviser and broker. 2. Dragon Ports Ltd ("Dragon Ports"): • Dragon Ports is a technology and quality assurance service provider with the mission of meeting the mounting demand for qualified and reliable mobile off-shore services. • Dragon Ports addresses one of the most pressing challenges facing participants across the mobile value-chain: how to optimize, test and make applications suitable for multiple platforms, handsets, languages and operators. • Located in Beijing, China, the Company leverages the economics of scale of China's low-cost base, coupled with international level project management expertise and attention to customer services, to offer the most complete and cost effective solution in the mobile market. This information is provided by RNS The company news service from the London Stock Exchange