SWEE JOO BERHAD ("SJB" OR "COMPANY") MEMORANDUM OF UNDERSTANDING (MOU) BETWEEN THE COMPANY, MTT SHIPPING SDN BHD (MTT) AND SHAREHOLDERS OF MTT 1. INTRODUCTION Reference is made to the announcement by the Company on 30 August 2010 pursuant to Practice Note 17 of the Main Market Listing Requirements (MMLR) of Bursa Malaysia Securities Berhad (Bursa Securities). The Board of Directors of SJB (the Board) is pleased to announce that the Company had on 26 November 2010 entered into MOU with MTT and Dato Kenny Ong Kean Lee and Dr Teoh Kooi Suang, being the shareholders of MTT (MTT Shareholders) as a prelude to the formalization of the proposed restructuring