Statement re: Share Price Movement

24 February 2015

Kuala Limited

("Kuala" or the "Company")

Statement re: Share Price Movement

The board of directors of Kuala (the "Board") notes the recent increase in the Company's share price. The Board confirms that, while it has been actively pursuing potential investment opportunities in accordance with the Company's investing policy as approved by shareholders on 12 November 2014, none of these discussions have resulted in any agreement to complete an investment nor are any discussions at an advanced stage. Accordingly, the directors confirm that they are not aware of any specific reason for such a share price movement.

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