TERMINATION OF THE PROPOSED ACQUISITION OF 100% OF THE ISSUED AND PAID-UP CAPITAL OF IONE RESOURCES, INC

The Board of Directors (the “Board”) of Teledata (Singapore) Limited (the “Company”) refers to the Company’s announcements dated 5 April 2010 in relation to its proposed acquisition of 100% of the issued and paid-up capital of iOne Resources, Inc (the “Proposed Acquisition”).

As announced, the Company had entered into a Memorandum of Understanding dated 3 April 2010 (“MOU”) to enter into definite agreements for the completion of the Proposed Acquisition within 4 weeks of the MOU (i.e. by 1 May 2010), such completion to be subject to the satisfactory outcome of due diligence investigations by the Company.

The Company did not enter into any definitive agreements in relation to the Proposed Acquisition by 1 May 2010 and as such, the MOU had automatically lapsed and ceased to be in effect from 2 May 2010. The parties have not agreed to any extension of the MOU and accordingly, the Company will not be proceeding any further with the Proposed Acquisition.