Re-organisation of Promoters' Holding

10 September 2010

Great Eastern Energy Corporation Limited

('Great Eastern Energy' or 'the Company')

Re-organisation of Promoters' Holding

The Company announces that CBM Investments Limited, a 100% subsidiary of YKM Holdings International Limited, has transferred its entire holding in Great Eastern Energy to YKM Holdings International Limited.

Following this transfer, the total beneficial family interest in the Company of Mr. Yogendra Kr. Modi, Chairman & CEO and Mr. Prashant Modi, President & COOwill remain the same at 70,303,040 GDRs, representing approximately 60.54% of the total issued share capital of the Company.

For Further Information:

Great Eastern Energy

YK Modi Chairman & CEO +44 (0)20 7337 1516

Prashant Modi President & COO

Arden Partners

Richard Day +44 (0)20 7614 5918

Adrian Trimmings

RBC Capital Markets

Martin Eales +44 (0)20 7653 4000

Brett Jacobs

Pelham Bell Pottinger

Philip Dennis +44 (0)20 7861 3800

Elena Dobson