MOU in relation to proposed acquisition

15 April 2010

Asian Citrus Holdings Limited

("Asian Citrus" or "the Group")

Memorandum of Understanding

Asian Citrus, the largest orange plantation owner and the single largest orange producer in China, announces that it has entered into an Memorandum of Understanding with Guangxi Lixin State Owned Farm in relation to the Proposed Acquisition of a citrus fruit plantation located in Fuchuan County in the Guangxi Zhuang Autonomous Region in the PRC. The Vendor is considered to be one of the largest owners and operators of citrus fruit plantations in the PRC and the Proposed Acquisition is in line with the business strategy and activities of Asian Citrus.

The plantation consists of approximately 1.1 million citrus fruit trees and ancillary facilities and occupies a land area of approximately 10,000 mu (approximately 6.67 sq.km). The plantation is currently in operation and would therefore provide Asian Citrus with immediate revenue and profit.

Under the Memorandum of Understanding, the Vendor has agreed that it will not negotiate with any third party for the sale and transfer of the plantation up to 31 January 2011.

The Board wishes to emphasize that no legally binding agreement in relation to the Proposed Acquisition has been entered into as at the date of the announcement. The final terms of the Formal Agreement (if any), including but not limited to the consideration, in relation to the Proposed Acquisition, have yet to be determined and finalised. As the Proposed Acquisition may or may not proceed, public investors and the shareholders of the Company are urged to exercise caution when dealing in the shares of the Company.

For further information please contact:

Weber Shandwick Financial Tel: 020 7067 0700

Terry Garrett, John Moriarty, Stephanie Badjonat

J.P. Morgan Cazenove Tel: 020 7588 2828

James Mitford / Gina Gibson 020 7742 4000