Wisdom Marine Group BoD approved purchase of three
63,000 dwt bulk carriers from Imabari Shipbuilding Co., Ltd.

27.12.2013

1. Name and nature of the subject matter (e.g.land located at Sublot XX, Lot XX, North District, Taichung City): Three 63,000dwt bulk carriers

2. Date of the occurrence of the event: 2013/12/27

3. Transaction volume (e.g.XX square meters, equivalent to XX p'ing), unit price, total transaction price: Three bulk carriers Two at about US$28,500,000 each, and one at about US$29,000,000 Total amount about US$86,000,000

4. Counterparty to the trade and its relationship with the company (if the trading counterpart is a natural person and is not an actual related party of the Company, the name of the trading counterpart is not required to be disclosed): Imabari Shipbuilding Co., Ltd., not related

5. Where the counterpart to the trade is an actual related party, a public announcement shall also include the reason for choosing the related party as trading counterpart and the identity of the previous owner (including its relationship with the company and the trading counterpart), price of transfer and the date of acquisition: Not Applicable

6. Where a person who owned the property within the past five years has been an actual related person of the company, a public announcement shall also include the dates and prices of acquisition and disposal by the related person and the person's relationship to the company at those times: Not Applicable

7. Anticipated loss or profit from the disposal (not applicable in cases of acquisition of assets) (where originally deferred, the status or recognition shall be stated and explained): Not Applicable

8. Terms of delivery or payment (including payment period and monetary amount): In installments until the deliveries

9. The manner of deciding on this transaction (such as tender invitation, price comparison, or price negotiation), the reference basis for the decision on price and the decision-making department:
The manner of deciding on this transaction: Price negotiation
The reference basis for the decision on price: Price negotiation
The decision-making department: Board of Directors

10. Name of the professional appraisal institution and its appraisal amount: Not Applicable

11. Reason for any significant discrepancy with the transaction amount, and opinion of the certifying CPA: Not Applicable

12. Is the appraisal report price a limited price or specific price?: Not Applicable

13. Has an appraisal report not yet been obtained?: No

14. Reason an appraisal report has not yet been obtained: The assets are operating assets which do not require an appraisal report.

15. Broker and broker's fee: None

16. Concrete purpose or use of the acquisition or disposition: Portfolio Management

17. Do the directors have any objection to the present transaction?: None

18. Any other matters that need to be specified: None

Wisdom Marine Group press release