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Announcement Details/Table Section :

On behalf of the Board of Directors of Careplus (

“Board”

), OSK Investment Bank Berhad (

“OSK”

) wishes to announce that the Company had on 17 June 2011 entered into a conditional joint venture agreement with Descarpack Descartaveis do Brasil Ltda. (

“Descarpack”

), a company incorporated under the laws of Brazil (collectively referred to as the

“JV Parties”

), through the equity participation in Careglove Global Sdn Bhd (

“Careglove” or the “JV Company”

), currently a wholly-owned subsidiary of Careplus, for the manufacturing and marketing of rubber gloves in Brazil and any other countries as may be mutually agreed in writing between the JV Parties from time to time (

“Proposed JV”

). The Proposed JV will therefore, carry on with the plans of Careglove in expanding and operating the new factory located at Lot 17479, Jalan Senawang Tiga, Senawang Industrial Estate, 70450 Seremban, Negeri Sembilan Darul Khusus, and the installation of plant and machineries.

Pursuant thereto, OSK, on behalf of the Board, wishes to announce that the Board proposes to revise the utilisation of proceeds to be raised from the Proposed Private Placement as announced on 28 April 2011 (

“Proposed Revision in Utilisation of Proceeds”

).

Further details on the Proposed JV and the Proposed Revision in Utilisation of Proceeds (which shall collectively be referred to as the

“Proposals”

) are set out in the attachment herein.

This announcement is dated 17 June 2011.