BURSA ANNOUNCEMENTS

The Board of Directors of Taliworks wishes to announce that Ningxia Eco had on 12^th July 2012 received the decision in respect of the above from the China International Economic and Trade Arbitration Commission, Shanghai Sub-Commission (“CIETAC”) dated 10^th July 2012. The details of the arbitral award are as follows:-
1. The Respondent shall pay the balance Project Advance Payment of RMB1,550,000 (“Balance Advance Payment”) to the Applicant within 5 working days upon receipt of a bank performance bond from the Applicant.
2. The Respondent shall pay a late payment penalty on the principal sum of RMB1,610,000 of the Project Advance Payment at the corresponding base lending rate (“BLR”) as quoted by the People’s Bank of China (“the Bank”) from 13^th June 2011 to 21^st July 2011 to the Applicant within 15 days upon receipt of the decision.
3. The Respondent shall pay a late payment penalty on the Balance Advance Payment at the corresponding BLR as quoted by the Bank from 13^th June 2011 to 1^st April 2012 to the Applicant within 15 days upon receipt of the decision.
4. The Respondent shall pay the contract sum amounting to RMB3,653,545.60 to the Applicant.
5. The Parties shall continue with the performance of the Ningxia wastewater treatment project as previously agreed between them.
6. The Respondent is required to bear partial payment of the Applicant’s legal fee for arbitration amounting to RMB742,000.
7. The arbitration cost of RMB516,126 (which was prepaid by the Applicant) shall be borne by the Applicant and the Respondent in the proportion of 30% and 70% respectively. The Respondent is required to pay 70% of the arbitration cost or RMB361,288.20 to the Applicant within 15 days upon receipt of the decision.
8. CIETAC has dismissed all other claims by the Applicant.
9. The decision of the arbitral award is final and shall take effect from the date of the arbitral award.

This announcement is dated 13^th July 2012.