December 31, 2015

The Board of Directors of Olympic Industries Limited is pleased to announce that it has taken the following decisions: 1. Confirmation of┬ácompletion of a 52,000 sqft production building at its Madanpur biscuit factory premises; 2. Commence construction of a 200,000 sqft production building at its Lolati biscuit factory premises, at an estimated cost of BDT 447.59 million to be funded from its own sources. This building will provide space for the installation of new machinery for future expansion projects and storage facilities for raw materials and finished goods; 3. Cease production of ballpoint pens, cereal bars and chutney at their respective units by January 31, 2016; 4. Import a new biscuit line, complete with ancillary and packing machinery from Italy and India, at an estimated cost of BDT 104.00 million to be funded through bank financing, to produce new varieties of biscuits and to meet the increased demand for its products. This line, the company’s eighth, will have an estimated annual capacity of 9,600 metric tons; 5. Import a PET sheet forming and tray making unit from China at an estimated cost of BDT 56.00 million to be funded through bank financing,┬áto produce trays for use in the packing of the company’s biscuits with an estimated annual capacity of 10 million trays to ensure uniformity in the quality of trays, reduce the cost of trays and reduce the company’s dependence on external suppliers.