REPLY TO QUERY REGARDING TRADING ACTIVITY


The Board of Directors of China Fishery Group Limited (the "Company" and together with its subsidiaries, the "Group") refers to the queries from SGX-ST on 28 January 2013 regarding the substantial increase in the price of shares of the Company traded on 28 January 2013 (the "Queries"). The Company sets out its responses to the Queries as follows:-

Question 1

Are you aware of any information not previously announced concerning you (the issuer), your subsidiaries or associated companies which, if known, might explain the trading? - If yes, the information must be announced immediately.

Response

The Company is not aware of any information not previously announced concerning the Company, its subsidiaries or associated companies which, if known, might explain the trading and the increase in the price of the Company's shares.

Question 2

Are you aware of any other possible explanation for the trading?

Response

The Company held its annual general meeting on 28 January 2013 ("AGM"). At the AGM, the Chairman of the meeting, Mr Ng Joo Siang, in the course of responding to the Company's shareholders' questions, disclosed details of two matters which may not have been announced to the market through SGXNET. The details are set out below:-
(1) One of Russia's pollock fisheries is in the 15-day public consultation stage and if there is no objections during the said period, the said Russian fishery is cleared for Marine Stewardship Council ("MSC") certification. The above information is publicly available.
(2) The Company together with Pacific Andes Resources Development Limited and Pacific Andes International Holdings Limited (the Company's listed indirect controlling shareholders) have previously announced on 5 December 2012 that the Group was in discussions with Russian Sea Catching LLC ("RSC") of the Russian Federation in respect of exploring various opportunities of possible future co- operation with RSC. It was disclosed at the AGM that the Group is unlikely to invest in more than a minority stake and may consider investing if, amongst other things, the future cooperation could assist in broadening the benefits currently enjoyed by the Group in Russia. It was also disclosed that negotiations are still on-going and an announcement will be made if an agreement is reached.
Save as disclosed above, the Company is not aware of any other possible explanation for the trading activity and the increase in price of the Company's shares.

Question 3

Can you confirm your compliance with the listing rules and, in particular, listing rule 703?

Response

The Company confirms that it has and will continue to comply with the listing rules and in particular listing rule 703.
By Order of the Board
Yvonne Choo
Company Secretary
28 January 2013

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