Interim Management Statement

February 1, 2011

Origo Partners PLC

Interim Management Statement for the three month period from October 1, 2010 to December 31, 2010.

This Interim Management Statement by Origo Partners Plc ("Origo" or the "Company") and its subsidiaries (the "Group") relates to the three month period from October 1, 2010 to December 31, 2010 (the "Period").

Highlights for the Period:

·; Unaudited net asset value at the end of the Period rose 7% to US$173.8 million compared to US$162.5 million for the period ending June 30, 20101

·; Unaudited net asset value per share of US$0.58 at the end of the Period compared to US$0.55 per share for the period ending June 30, 2010

·; Total investments of US$21.3 million

·; Realizations of US$21.4 million, primarily from the partial sale of the Company's stakes in HaloSource (US$11 million) and Rising InfoTech (US$6.2 million)

·; Net cash position of US$29.9 million

1 Unaudited interim accounts for the period ending June 30, 2010

Chris Rynning, Origo's CEO, said:

"We ended 2010 on a very positive note and have carried this momentum into 2011. The commencement of realizations from our portfolio via the AIM IPO of HaloSource Inc and the partial sale of our interest in Rising is evidence of the growing maturity of our business and our renewed focus on mining and clean-tech investments. We continue to see a healthy flow of investment opportunities, both in new prospective targets and in existing portfolio companies, and are in the final stages of launching our renminbi clean-tech fund-product in cooperation with the Chinese government.

"To fund these initiatives, we have announced a placing of new convertible zero-dividend preference sharesof not less than US$60 million. Further, as part of our ongoing efforts to strengthen communication with existing shareholders and increase the appeal of the Origo proposition to a broader audience of investors, we are pleased to issue this first quarterly Interim Management Statement."

1. Resources and Commitments

At December 31, 2010, Origo had cash and cash equivalents of US$33.4 million. Outstanding commitments to portfolio companies amounted to US$0.4 million and payables to debtors and other liabilities equaled US$3.1 million, leaving the Group with a net cash position of US$29.9 million.

2. Unaudited Net Asset Value

Origo's portfolio of investments (the "Portfolio") (apart from quoted investments) is yet to be revalued as of December 31, 2010. However, excluding revaluations of the Portfolio (but adjusted to reflect the purchases and sales of investments, currency movements and market values in respect of quoted investments), the unaudited net asset value at the end of the Period estimated by the management was US$173.8 million (US$0.58/share) compared to US$162.5 million (US$0.55/share) at the time of unaudited interim accounts for the period ending June 30, 2010 ("Interim Results"), representing an increase of 7%. The equivalent NAV per share translated into British Sterling at the prevailing exchange rate at the end of the Period was 37.7p compared to 36.3p for the period ending June 30, 2010.

3. Portfolio composition

The Group invests predominately in privately held companies across various sectors of China's economy, and in companies and assets with connections to the Chinese market, with the objective of providing shareholders with above market returns, primarily through capital appreciation. At the present time, the Group focuses on two sectors: natural resources (comprising metals, mining and agriculture) and clean technology.

At December 31 2010, the Portfolio was carried at the aggregate value (excluding revaluations of unquoted portfolios) of US$123.0 million.2 The top 10 investments represented 95% of the fair value of the Portfolio; the top 5 investments accounted for 80%.

2 Excluding US$13 million of prepayment in connection with a conditional stock purchase agreement entered into with a new prospective investment target

Table 1: Top 10 Investments (US$ million)

Reflecting the Group's strategy of investing in privately held companies, 94% of the Portfolio (in terms of fair value) is presently invested in unquoted companies with the exception of the Company's stake in AIM listed HaloSource Inc. (LSE: HALO) and a minor position in Weka Entertainment, listed on NYSE Alternext (ALWEK.NX).

The weighted average holding period was 2.2 years, with 69% of the Portfolio having been held for less than 3 years; 22% having been held for 3-4 years, and 9% for 4 years or longer.

In terms of sectors, the composition of the Portfolio was as follows: Metals & Mining (45%), Agriculture (26%), Clean tech (17%), and Consumer, Technology and Media (12%). There is noticeable shift from the time of the Interim Results towards the natural resources and clean tech sectors, reflecting the present investment focus on these two sectors and the stated intent to divest legacy holdings, represented primarily by investments in the consumer, technology and media sector.

4. Investments

Origo invested a total of US$21.3 million in the three months to December 31, 2010, comprising US$17.5 million of investments in new portfolio companies, and US$3.8 million of deployments to existing investee companies.

In November, Origo announced the acquisition of a 30% stake in Altan Takhi Company ("ATC"), for a total cash consideration of US$3 million. ATC owns a 100% interest in the Budag Tolgoi copper-gold prospect situated in the central copper belt of Mongolia.

In December, the Company completed a US$1.7 million follow-on investment in Niutech Energy Ltd ("Niutech"), previously known as Jinan Eco-Energy Ltd, in connection with Niutech launching its first co-developed plastic recycling plant in China.

During the Period, the Company deployed an additional US$13 million in connection with a conditional stock purchase agreement entered into with a new prospective investment target. This prepayment is expected to be disbursed in full during the course of Q1, 2011, subject to the fulfillment of certain closing conditions.

5. Realizations

Realizations amounted to US$21.4 million, the majority being generated by the partial sale of the Company's stakes in HaloSource Inc (US$11 million) and Rising InfoTech (US$6.2 million).

HaloSource Inc which successfully completed an initial public offering ("IPO") on the AIM market of the London Stock Exchange in October 2010, was valued in the IPO at US$160 million (approximately £100 million) post new money, raised gross proceeds of US$50 million. As a result of strong demand from investors seeking to participate in placing and IPO, Origo sold approximately 60% of its stake to raise US$11 million in cash, resulting in the reduction of Origo's stake in HaloSource being reduced to 4.3%.

Based upon the placing price of HaloSource's shares, the IPO delivered a 79% uplift on Origo's original investment. At the end of the Period, Origo's remaining stake in HaloSource was valued at US$7.3 million, on the basis of the HaloSource closing price at December 31, 2010 less a 10% liquidity discount to account for lock-up, expiring in October, 2011.

Origo sold 50 % of its beneficial interest in Rising InfoTech to a local Chinese investment company. The transaction generated gross proceeds of RMB41 million (US$6.2 million) whilst providing Origo with continued exposure to a fast growing company in an attractive market. Origo will retain a 1% beneficial interest in Rising InfoTech and a 2% stake Rising Tech. Origo's investment in Rising was valued at US$12.5 million in its unaudited accounts for the period ended 30 June 2010.

Following a review of the evolving Mongolian portfolio of exploration projects, the Company further divested two smaller holdings in Bumbat Consolidated Ltd ("BCL") and ATC for US$1.2 million and US$3 million respectively allowing a greater focus on the Company's two flag-ship Mongolian assets, Gobi Coal & Energy Ltd and Kinkora Group Ltd as well as new opportunities presently being evaluated in that market.

6. Portfolio updates

In connection with Origo exercising its option in Niutech, the Company, through a subsidiary, entered into an agreement to establish a joint-venture with Zhejiang Youbang Energy Development Co. Ltd. ("Youbang"), a domestic investment group. With an initial capitalization equivalent to US$3.3 million, the joint venture will be 55% owned by Niutech, with a 45% interest held by Youbang.

The joint venture has the potential to become one of China's largest plastic-to-fuel recycling operations. Based on Niutech's patented recycling technologies, the initial processing capacity of the plant will be 20,000 tons of waste plastic, with an expected output of 50,000 barrels of fuel-oil per annum.

ENDS