Peregrine Holdings Ltd. provided earnings guidance for the full year ending March 31, 2013. In this regard, shareholders are advised that, as part of Peregrine's testing for impairment of intangible assets, it has become clear that the intangible assets (comprising goodwill, trade names and customer relationships) on the balance sheet of Stenham Limited (in which Peregrine has an effective 62.7% shareholding), will require to be impaired at the end of the current financial year ending 31 March 2013. The impairment follows from the fact that the assumptions underlying the models on which Stenham's intangible assets are calculated for accounting purposes have changed materially from the time of Peregrine assuming a controlling interest in Stenham in 2008 and more particularly in the period under review.

As a result of this impairment to the intangible assets of Stenham Limited, Peregrine's basic earnings per share for the year ending 31 March 2013 will be lower than the basic earnings per share for the year ended 31 March 2012 (being 144.2 cents) by more than 20%.