Depp Technology Announces the Possible Sale of the Entire Interest of Heyue Company

Depp Technology issued a memorandum of understanding regarding the possible sale of the entire interest in Heyue Technology. The Board of Directors of Depp Technology announced that the Vendor and the Purchaser entered into an extension letter on April 9, 2012, pursuant to which the parties to the Memorandum of Understanding will enter into a legally binding agreement. The date of the formal agreement, the expiry date of the memorandum of understanding and the expiration date of the exclusive period are extended from the date of 90 days from the date of the memorandum of understanding to or before 9 June 2012 or such later date as the seller may agree separately.

The Board of Directors has emphasized that a binding agreement has not been entered into for the Possible Disposal at the date of the Announcement. Therefore, the sale may not be carried out. If the sale is likely to be implemented, it may constitute a transaction announced by the Company. If any formal agreement is signed, the company will likely issue a separate announcement.

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