10 January 2012
The Manager ASX Limited Exchange Centre
20 Bridge Street
Sydney NSW 2000
Dear Sirs,

Forthcoming release of restricted securities and securities subject to voluntary escrow to 25 January 2013

Audio Pixels Holdings Limited (AKP:ASX; OTC:ADPXY) advises the Market pursuant to ASX Listing Rule 3.10A that 4,887,807 unquoted restricted ordinary shares will be released from ASX escrow on 25 January 2012 and will still be subject to voluntary escrow until 25

January 2013.

These 4,887,807 restricted ordinary securities were issued to the vendors of Audio Pixels Limited on 25 January 2011 and were restricted by the ASX for a period of 12 months from the date of issue. These 4,887,807 ordinary shares are still subject to a further 12 month voluntary escrow period until 25 January 2013, and are subject to a holding lock by the company share registrar, and in accordance with the Israeli Tax Authorities (ITA) lockup restrictions.
These 4,887,807 ordinary shares are registered in the name of S.G.S. Trusts Limited which is the ITA approved trustee who also requires a voluntary restriction on these shares to protect its position, however at this stage the ITA have not determined a formal date for release
which may be beyond 25 January 2013. To the extent the ITA will determine in the tax ruling a formal date for release beyond 25 January 2013, the 4,887,807 shares will be restricted from trading in accordance with the ITA conditions.
As these 4,887,807 ordinary shares are currently unquoted securities, the Company will apply for quotation of these ordinary shares after the end of the ASX escrow period on 25 January
2012 as required by ASX Listing Rule 2.8.2. Yours faithfully,
Ian Dennis
Director

Audio Pixels Holdings Limited