NOTICE OF INTEREST/CHANGES IN INTEREST

Page 1 of 2

NOTICE OF A CHANGE IN THE PERCENTAGE LEVEL OF A SUBSTANTIAL SHAREHOLDER'S INTEREST *

* Asterisks denote mandatory information

Name of Announcer *

SMB UNITED LIMITED

Company Registration No.

199506364D

Announcement submitted on behalf of

SMB UNITED LIMITED

Announcement is submitted with respect to *

SMB UNITED LIMITED

Announcement is submitted by *

Toh Kian Poh

Designation *

Company Secretary

Date & Time of Broadcast

28-Feb-2012 17:16:14

Announcement No.

00071

>> ANNOUNCEMENT DETAILS

The details of the announcement start here ...

>> PART I

1.

Date of notice to issuer *

28-02-2012

2.

Name of Substantial Shareholder *

Osaki Electric Co., Ltd. ("Osaki")

3.

Please tick one or more appropriate box(es): *

Notice of a Change in the Percentage Level of a Substantial Shareholder's Interest or Cessation of Interest. [Please complete Part III and IV]

>> PART II

1.

Date of change of [Select Option]

2.

Name of Registered Holder

3.

Circumstance(s) giving rise to the interest or change in interest

[Select Option]

# Please specify details

4.

Information relating to shares held in the name of the Registered Holder

No. of [Select Option] held before the change

As a percentage of issued share capital

%

No. of N.A. which are subject of this notice

As a percentage of issued share capital

%

Amount of consideration (excluding brokerage and stamp duties) per share paid or received

No. of N.A. held after the change

As a percentage of issued share capital

%

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28/2/2012

NOTICE OF INTEREST/CHANGES IN INTEREST

Page 2 of 2

>> PART III

1.

Date of change of Interest

24-02-2012

2.

The change in the percentage level

From 90.04 % To 92.48 %

3.

Circumstance(s) giving rise to the interest or change in interest

# Others

# Please specify details

On 28 December 2011, Daiwa Capital Markets Singapore Limited announced, for and on behalf of Osaki, a voluntary conditional cash offer (the "Offer"), to acquire all the ordinary shares in the capital of SMB United Limited ("Shares").

Following the receipt of valid acceptances of the Offer for 24 February 2012 and 27 February 2012 in respect of an aggregate of 12,492,000 Shares, Osaki has an interest in a total of 474,507,239 Shares and its interest in the Shares has increased from 90.04% to 91.20% as at 24 February 2012 and from 91.20% to 92.48% as at 27 February 2012.

4.

A statement of whether the change in the percentage level is the result of a transaction or a series of transactions:

The change is the result of a series of transactions as set out in item 3 of

Part III above.

>> PART IV

1.

Holdings of Substantial Shareholder , including direct and deemed interest :

Direct

Deemed

No. of shares held before the change

462,015,239

0

As a percentage of issued share capital

90.04 %

0 %

No. of shares held after the change

474,507,239

0

As a percentage of issued share capital

92.48 %

0 %

Footnotes Based on 513,101,999 ordinary shares in the capital of SMB United Limited.
Attachments Total size = 0

(2048K size limit recommended)

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28/2/2012