Submission of applications to Bursa Malaysia

10 April 2012

RedHot Media International Limited

("RedHot" or the "Company")

Further re proposed disposal

Submission of applications to Bursa Malaysia Securities Berhad and Securities Commission Malaysia

On 16 November 2010 the Company announced that they had entered into a conditional Sale of Shares Agreement ("SSA") with PUC Founder (MSC) Berhad ("Founder") for the proposed disposal of the entire issued share capital of RedHot Media Group Sdn Bhd ("RMG"), Red Media Asia Limited ("Red Media") and Ausscar Group Sdn Bhd ("Ausscar"), all of which are wholly owned operating subsidiaries of RedHot, (the "Proposed Disposal") to Founder. The total consideration payable on the Proposed Disposal is RM95,000,000 to be satisfied through the issuance of a total of 950,000,000 new ordinary shares in Founder at an issue price of RM0.10 (the "Consideration Shares").

As detailed in the announcement released by the Company on 16 November 2010 (the ("Announcement") the Proposed Disposal is subject to, inter alia, obtaining regulatory approvals in Malaysia, including approval by Bursa Malaysia Securities Berhad ("Bursa Securities"), the stock exchange of Malaysia.

On 9 April 2012 Founder announced that the required applications and notification in respect of the Proposed Disposal were submitted to Bursa Securities and the Securities Commission Malaysia on 9 April 2012.

As detailed in the Announcement, the Proposed Disposal is, pursuant to Rule 15 of the AIM Rules for Companies, conditional on approval by shareholders of RedHot in a general meeting to be convened and the Company will, subject to the necessary regulatory approvals being obtained in Malaysia, despatch in due course a circular to shareholders of RedHot convening a general meeting of the Company (the "Circular").

A copy of the announcement released by Founder on 9 April 2012 is available from www.bursamalaysia.com and the full text of the announcement has been included below.

Further announcements will be made by RedHot in due course.

For further information please contact:

PUC FOUNDER (MSC) BERHAD ("PUCF" OR THE "COMPANY")

(I) PROPOSED ACQUISITION OF THE ENTIRE EQUITY INTEREST IN Red Media Asia Limited ("RED MEDIA ASIA" OR "RMA") COMPRISING A TOTAL OF 8,269,818 ORDINARY SHARES OF USD1.00 each FROM redHOT media international limited ("RMIL" or the "vendor") FOR A TOTAL CONSIDERATION OF rM95.0 MILLION TO BE SATISFIED VIA THE ISSUANCE OF 950,000,000 NEW ORDINARY SHARES OF RM0.10 EACH IN PUCF ("SHARES") AT AN ISSUE PRICE OF rm0.10 EACH("PROPOSED ACQUISITION");

(II) PROPOSED EXEMPTION UNDER PRACTICE NOTE 9 OF THE MALAYSIAN CODE ON TAKE-OVERS AND MERGERS2010 ("CODE") TO RMIL AND PERSONS ACTING IN CONCERT WITH IT FROM THE OBLIGATION TO UNDERTAKE A MANDATORY TAKE-OVER OFFER FOR THE REMAINING PUCF SHARES NOT ALREADY HELD BY IT UPON COMPLETION OF THE PROPOSED ACQUISITION ("PROPOSED EXEMPTION");

(III) PROPOSED INCREASE IN AUTHORISED SHARE CAPITAL OF pucf ("proposed IASC"); and

(IV) proposed amendment to PUCF's meMorandum and articles of association ("proposed Amendment");

(HEREINAFTER COLLECTIVELY REFERRED TO AS THE "PROPOSALS").

We refer to the announcements made by Kenanga Investment Bank Berhad ("KIBB"), on behalf of the Board of Directors of PUCF ("Board") on 16 November 2010, 14 February 2011, 28 March 2011, 11 April 2011, 13 May 2011, 2 June 2011, 19 August 2011, 11 November 2011 and 24 February 2012 in relation to the Proposals.

On behalf of the Board, KIBB wishes to announce that the relevant applications and notification in respect of the Proposals have been submitted on 9 April 2012 to Bursa Malaysia Securities Berhad and Securities Commission Malaysia, respectively.

This announcement is dated 9 April 2012.