Results of Successful Placing
and Open Offer

13 July 2010

On 25 June 2010, the Board of Goldenport Holdings Inc. ("Goldenport" or the "Company") announced details of a Capital Raising to raise gross proceeds of approximately £23.5 million (approximately US$35 million) through the Placing and Open Offer of 18,496,010 New Shares at an Issue Price of 127 pence per New Share. The expected proceeds, net of expenses, are approximately £22.3 million (US$33.1 million).

The Open Offer closed for acceptance at 11.00 a.m. on 12 July 2010. The Company is pleased to announce that it has received valid acceptances under the Open Offer in respect of 10,214,937 New Shares. In addition, 8,281,073 New Shares have been placed with existing shareholders and other investors pursuant to the Placing, resulting in the aggregate total of 18,496,010 New Shares to be issued under the Placing and Open Offer.

The Capital Raising remains conditional, amongst other things, upon the approval of Shareholders at the Extraordinary General Meeting, to be held at 11.00 a.m. Athens time (9.00 a.m. London time) on 19 July 2010 and Admission. The Directors of the Company controlling in aggregate 60.7% of the issued share capital have irrevocably undertaken to vote in favor of the Capital Raising Resolutions to be proposed at the Extraordinary General Meeting.

Application will be made to the UKLA for the New Shares to be admitted to the Official List and to the London Stock Exchange for the New Shares to be admitted to trading on the London Stock Exchange's main market for listed securities. It is expected that Admission will take place on 20 July 2010 and that dealings in the New Shares will commence at 8.00 a.m. on 20 July 2010.

The New Shares will, when issued and fully paid, rank equally in all respects with the Existing Shares, including the right to receive all dividends or other distributions made, paid or declared, if any, by reference to a record date after the date of their issue.

The New Shares (in uncertificated form) are expected to be credited to CREST accounts on or around 8.00 a.m. on 20 July 2010 and definitive share certificates for the New Shares (in certificated form) are expected to be dispatched to certificated shareholders by no later than 23 July 2010.

Source: Goldenport Holdings Inc