The Board of Directors of HAISAN wishes to announce that the Company's wholly-owned subsidiary, IGLO (M) Sdn Bhd ("IGLO M" or "the Plaintiff") had filled a Writ of Summons dated 4 January 2012 and Statement of Claim dated 3 January 2012 in the Kuala Lumpur High Court and served to Unilever (M) Holdings Sdn Bhd ("the Defendant") on 4 January 2012. The Plaintiff claims against the Defendant a sum of RM607,824.46 ("the Claim") which was due and owing to the Plaintiff towards rental charges. Furthermore, the interest ratecharged by the Plaintiff to the Defendant under the Claim is 4.0% per annum.

The Claim is not expected to have any impact on the business and operational aspects of the Group. If the Claim is successfully claimed, the Group will recognise the Claim as other income under allowance for doubtful debts no longer required. If the Claim is unsuccessfully claimed, the Group will not have impact on the Group's financial position except for the legal costs arising from the Claim.

This suit is fixed for case management on 3 February 2012.

The Company will announce further developments on this suit as and when necessary.

This announcement is dated 10 January 2012.

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