Asia Packaging Group acquires property in Fujian

During the fourth quarter ended March 31, 2013, the Company entered into a land acquisition agreement with Fujian Xinshidai Industry Trade Development Company in the amount of RMB 120 million ($19.6 million). The transaction involves the purchase of the land use right and associated buildings in Fujian Province relating to the manufacturing operation of Yuanxing Packaging. Closing of this acquisition and transfers of the land use right was completed subsequent to the Company's fiscal year end on March 31, 2013.

Given that the Company entered into the land acquisition agreement before the filing of the Company's third quarter statements on February 27, 2013, the Company will refile it's third quarter statements, MD&A and certificates with inclusion of the signing of this land acquisition agreement as a subsequent event.

Asia Packaging Group, through its wholly-owned subsidiaries in the People's Republic of China, is in the business of manufacturing packaging products and services to the food pharmaceutical and retail industries in China. The Company operates a manufacturing plant in Yichun City, Jiangxi Province, China where it produces a variety of film and plastic packaging products. With the completion of the acquisition of Yuanxing Packaging earlier this year, the Company has added a bag manufacturing facility located in Fujian Province and sales offices in Guangzhou and Shanghai.