The Board of Directors of TEE International Limited announced that the Company's associate, Chewathai Ltd., has successfully acquired a piece of industrial land, with the Title deed no. 15000, which is located at Tambon Map Yang Phon, Amphur Pluak Daeng, Rayong Province, Thailand for a total purchase consideration of THB 46.5 million. The Property occupies a land area of approximately 450,922 square feet and is freehold in tenure.

The Company intends to build factories on the Property for leasing purposes. The cost to develop the infrastructure and factories on the Property is about THB 200 million. The completion of the construction is expected to be in September 2013.

The acquisition of the Property will be financed by internal funds and bank borrowings. The transaction is not expected to have any material impact on the earnings per share and the net tangible assets of the Company for the current financial year ending May 31, 2013. None of the Directors or controlling shareholders of the Company has any interest, direct or indirect, in the aforesaid transaction, save for their shareholdings in the Company.