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PROPOSED ACQUISITION OF SHARES IN ELEKTROMOTIVE LTD

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The Board of Directors of Teledata (Singapore) Limited (the “Company”) wishes to announce that the Company has been in exclusive negotiations with HH Prince Abdul Hakeem from Brunei (the “Vendor”) for the proposed acquisition (the “Proposed Acquisition”) of 51% of the issued and paid up capital (“Sale Shares”) of Elektromotive Ltd (the “Target Company”).

Founded in 2003 and based in Brighton, UK, the Target Company designs and installs leading edge technology for recharging electric and plug-in hybrid electric vehicles. Its main product is the Elektrobay, a recharging station for on-street or multi-storey car park use.

The parties commenced formal negotiations on the commercial terms of the Proposed Acquisition on 21 April 2010 with the view of entering into formal and definitive documentation in respect of the Proposed Acquisition, which shall include a conditional sale and purchase agreement (“Definitive Agreements”), with an announcement to be made by the Company on the same.

However, as at the date of this announcement, the parties have yet to reach an agreement on certain commercial terms of the Proposed Acquisition and consequently, no agreement has been entered into. The parties have, on 26 April 2010, entered into an exclusivity agreement (“Exclusivity Agreement”), whereby the Vendor undertakes not to, during a period of five (5) weeks after the date of the Exclusivity Agreement, solicit interest in, negotiate or entertain, directly or indirectly, any transaction with any third party involving (i) the sale, transfer or disposal of or encumbrance over or dealings with any interest in the Sale Shares; (ii) the grant by the Target Company of any option pursuant to which a third party may acquire the Sale Shares; (iii) the issue by the Target Company of additional shares in the capital of the Company; or (iv) save in the ordinary course of business, the sale of all or part of the business or assets of the Target Company to a third party.

The period of exclusivity for the negotiations with the Vendor will end on 30 May 2010.

In view of the above, shareholders should exercise caution in trading their shares in the Company. There is no certainty or assurance as at the date of this announcement that Definitive Agreements in respect of the Proposed Acquisition will be entered into.

The Company will make the necessary announcements when there are any further developments on the Proposed Acquisition.

BY ORDER OF THE BOARD
Christopher Michael Pan
Chairman and Chief Executive Officer
27 April 2010