Agritrade Resources : Announcement In relation To Floating Storage Tanker Service Agreement

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Hong Kong Exchanges and Clearing Limited and The Stock Exchange of Hong Kong Limited take no responsibility for the contents of this announcement, make no representation as to its accuracy or completeness and expressly disclaim any liability whatsoever for any loss howsoever arising from or in reliance upon the whole or any part of the contents of this announcement.

(Incorporated in Bermuda with limited liability)

(Stock Code: 1131)

ANNOUNCEMENT IN RELATION TO FLOATING STORAGE TANKER SERVICE AGREEMENT

This announcement is made by Agritrade Resources Limited (the "Company", together with its subsidiaries, collectively referred to as the "Group") on a voluntary basis.

Reference is made to the announcements of the Company dated 15 January 2016 and 9 March 2016 (the ''Announcements'') in relation to the Acquisition of the VLCC grade Vessel. Unless otherwise stated, capitalised terms used in this announcement shall have the same meanings as those defined in the Announcements.

FLOATING STORAGE TANKER SERVICE AGREEMENT

The Board is pleased to announce that on 15 March 2016, Sea Horizon Line Ltd. (the "Lessor"), an indirect wholly-owned subsidiary of the Company, entered into a floating storage tanker service agreement (the "Contract") with Glencore Singapore Pte Ltd. (the "Lessee"), an independent international petroleum trading company, during the Group's ordinary course of business. Pursuant to the Contract, the Lessor shall grant to the Lessee the exclusive use of the Vessel for the crude contango business and storage use. The Contract is signed for a period of two years commencing on or about 20 March 2016 with an option to renew at the Lessee's option. The Lessee shall pay a market level hire rate of approximately US$40,000 per day monthly.

Having capitalised on the long-term relationship with global energy and resources giants, the Group could manage to enter into long-term floating storage service agreement shortly after the completion of the Acquisition of the VLCC Vessel. The Board expects that the Contract will contribute significantly to the revenue and cash flows of the Group from the financial year ending 31 March 2017 onwards and believes that the VLCC Vessel will have a promising prospect and will promote the long term growth of the Group in the future.

By order of the Board

Agritrade Resources Limited

Ashok Kumar Sahoo

Executive Director and Chief Financial Officer

Hong Kong, 15 March 2016

As at the date of this announcement, the Board comprises Mr. Ng Say Pek (Chairman), Mr. Ng Xinwei, Ms. Lim Beng Kim, Lulu and Mr. Ashok Kumar Sahoo as executive Directors; Mr. Wong Man Hung, Patrick (Vice-Chairman) and Mr. Shiu Shu Ming as non-executive Directors and Mr. Chong Lee Chang, Mr. Siu Kin Wai and Mr. Terence Chang Xiang Wen as independent non-executive Directors.