Agritrade Resources : Completion Of Discloseable Transaction In Relation To The Acquisition of a VLCC Grade Oil Tanker

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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)

COMPLETION OF DISCLOSEABLE TRANSACTION IN RELATION TO THE ACQUISITION OF A VLCC GRADE OIL TANKER

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 announcement of the Company dated 15 January 2016 (the "Announcement") in relation to the Acquisition. Unless otherwise stated, capitalised terms used in this announcement shall have the same meanings as those defined in the Announcement.

COMPLETION OF THE ACQUISITION

The Board is pleased to announce that the Acquisition in relation to the VLCC grade Vessel entered on 15 January 2016 with Euronav NV, being one of the largest crude oil tanker company in the world, was completed on 9 March 2016. Following the completion of the Acquisition, the Group has further expanded its floating storage and ocean freight business through its ownership of two VLCC-grade vessels, which would contribute stable, sustainable and diversified income and cash flows to the Group on a long-term basis.

By order of the Board

Agritrade Resources Limited

Ashok Kumar Sahoo

Executive Director and Chief Financial Officer

Hong Kong, 9 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.