10 December 2008

PAQ International Holdings Limited (the 'Company')

Issue of Equity

The Company has agreed to issue 1,000,000 ordinary shares of US$0.01 to Ng, Ngai Hung Jimmy following a conversion of a loan of HK$445,000. The conversion strike price of HK$0.445 (2.88p) was fixed at an exchange rate of 1 GBP = HK$15.438, at the time of the agreement, and this conversion is at a significant premium to the current share price of 0.38p.

Application has been made for the new ordinary shares to be admitted to trading on AIM and trading of the new ordinary shares on AIM is expected to commence on 15 December 2008.

Following the issue of shares as detailed above the total number of ordinary shares in issue as at 15 December 2008 will be 121,516,667.

Contact