30 November, 2009

Dear Shareholder

Results of the EGM
I am delighted to report that at last week’s EGM the resolutions were passed as your Board recommended. Indeed, if the votes of the requisitionists and Simon Littlewood (who voted with them) are discounted the overwhelming majority of shareholders supported your Directors, decisively rejecting the Proposed Directors with their liquidation strategy. Instead shareholders voted strongly in favour of the Proposed Tender Offer by Wuhan Kaidi Holding Investment Co. Limited of 5p cash per share to enable Kaidi to acquire a shareholding of 29.9% of the Company.

Before we can progress this we must first complete the challenging task of preparing accounts for prior years. By now you will have received the Report & Accounts for the year to 31st December 2007, which will be presented to shareholders for their approval at a General Meeting to be held at 11:00 am on 18th December 2009 at the offices of Speechly Bircham LLP, 6 New Street Square, London EC4A 3LX.

Although we have been delayed by the EGM we now hope to circulate the accounts for 2008 in January of next year, holding the next General Meeting in February. This will bring us back in line with our statutory requirements. The 2009 accounts will follow very quickly and we expect to circulate the Tender Offer document shortly afterwards. Once the Tender Offer has been successfully implemented the next step will be to return the Company to a listing, which we hope to complete towards the end of 2010, enabling shares to once more be freely traded.

We are extremely grateful for your vote of confidence at the EGM. As a demonstration that we share this confidence in the future, following the EGM your Directors purchased an aggregate of 10 million shares at a price of 5p. It is our intention to continue to work energetically to justify your support and increase the value of your shares, and ours, in London Asia Capital plc.

For further information please monitor the Company website which will carry regular updates; www.londonasiacapital.com.

Again, thank you for your support.

Yours sincerely,

Keith H A Negal MBA FCMA
Chief Executive