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Ownership change

[2012-10-31]

Hong Kong, October 30, 2012

Dear Customers and Suppliers of APC,

Ownership change

Ever since the transformation from ASG into APC end of 1999, our Company has experienced a steady growth, and is now well established in the market place.

This was indeed acceptable until now, but we would also like to see the APC Group grow even bigger, and move to the next level, in an increasingly competitive environment. To achieve that, we have during the last few months evaluated different options, including going public, to ensure we could retain the present management and staff.

During this evaluation, we received a proposal from Nippon Express, that has now led to an agreement, which should meet our growth ambitions, and at the same time allow us to continue as a separate entity.

Even Nippon Express has today acquired the ownership of the APC group, we will thus not be integrated or merged with their own operations, but continue to operate independently. Consequently, we will also retain our own separate network of offices and agents around the world.

Leading APC into the future, we are convinced, that the agreement just concluded with Nippon Express, should be highly beneficial to all of us, including you as our partners.

With best regards,

Bengt and Eligio / Chairman respectively MD

News update

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