Statement re CULS

GEONG INTERNATIONAL LIMITED - Statement re CULS

PR Newswire

London, January 25

The Company announces that payment of the interest amount due on 31 December2012 under the CULS was late as a result of unexpected delays in the grantingof approval by the State Administration Of Foreign Exchange of China ("SAFE")for the transfer of funds. Payment, which was still being processed on the duedate, was made on 15 January 2013.

As a result of the late payment which represents a default under the terms ofthe CULS, the holders, Hanafin Investments Limited ("Hanafin"), have requestedimmediate repayment of the CULS. Whilst the Company has adequate resources tomake the repayment it will not be able to secure the necessary approvals fromSAFE to do so in the short term. Accordingly, the Company is seeking to reachan understanding with Hanafin as to an acceptable and achievable timetable forthe repayment.

The Company retained £3.9 million in cash at 31 December 2012.

For further information, please contact:

GEONG International Limited www.geong.com Tel: +86 10 8586 9655Henry Tse, ChairmanWeidong Wang, CEO

Financial Adviser and Joint BrokerEvolution Securities China Ltd Tel: +44 (0)20 3362 8882Tim Worlledge

Nomad and joint broker

About GEONG International Limited

GEONG is recognised as a leading independent Internet software solutionsprovider and operator for large enterprises in China.

Registered in Jersey, the Company's operations are headquartered in Beijing,China. GEONG International Ltd. (GEONG or the Company) has been quoted on theLondon Stock Exchange (LSE AIM: GNG.L) since June 2006. The Company has sincetransformed from an ECM (Enterprise Content Management) software and servicecentric business to an internet business centric company.

GEONG is an internet solutions and service software company managed by a worldclass management and professional team who collectively own 26% of thebusiness. The Company's mission is to help its clients to improve theirbusiness efficiency and customer satisfaction through smarter internetapplications.

For more information, please visit www.geong.com