wah nam on the brink of successfull takeover

New thread given the significance.


WAH NAM INTERNATIONAL HOLDINGS LTD (WNI) TAKEOVER BID FOR FERRAUS LIMITED

Wah Nam International Holdings Ltd (Wah Nam) is pleased to announce that Wah Nam International Australia Pty
Ltd (Wah Nam Australia) intends to waive the 90% minimum acceptance condition for its off-market takeover offer
of FerrAus Limited (FerrAus) if it receives sufficient acceptances to give it a relevant interest in more than 50% of FerrAus shares.

Wah Nam Australia is also pleased to advise it now has a 41.7% interest in Brockman Limited (Brockman) resulting
from a strong level of acceptances of its takeover offer by Brockman shareholders. The level of acceptances reflects
significant shareholder support for its Brockman offer.

Wah Nam Australia is becoming increasingly confident it will achieve its 50% minimum acceptance condition under
the Brockman offer which would allow it to achieve the benefits of a combined Wah Nam - Brockman Group set out
in section 6.16 the bidder's statement.

Wah Nam Australia urges FerrAus shareholders to reconsider the offer and the benefits of the Wah Nam - Brockman -
FerrAus - Group set out section 6.14 of the bidder's statement. These benefits may include being in a better position than FerrAus or Brockman to progress, develop and finance the potential independent infrastructure requirements of the FerrAus Pilbara and Marillana Projects.

A reduction in the minimum acceptance condition, together with the strong Brockman acceptances, goes a long way
towards addressing two significant concerns outlined by the FerrAus board in its recommendation to reject the offer
set out in the target statement. Wah Nam Australia strongly encourages FerrAus shareholders to reassess the offer and the benefits of accepting.

Wah Nam Australia reminds FerrAus shareholders that if the offer is successful, amongst other things, it intends to
procure funds for the development of the FerrAus Pilbara Project as well as progress the development of the North
West Infrastructure Group's berth facilities at Port Hedland. Wah Nam considers it will have a strong ability to
attract financing, including debt financing, for the development of the FerrAus Pilbara Project and the associated port and rail infrastructure.