REG-Phoenician Corporation V Limited: Temporary Suspension

PHOENICIAN CORPORATION V LIMITED (the "Company")

PROPOSED MATERIAL TRANSACTION

SUSPENSION OF TRADING OF SHARES

AND ENLARGEMENT OF FOCUS

The Company is pleased to announce that it is in discussions with Prime
Investments Group Limited ("Prime"), a special purpose vehicle incorporated in
the Cayman Islands regarding a possible reverse takeover of Prime by the
Company (the "Proposed Transaction"). The Proposed Transaction would constitute
a reverse takeover ("RTO") under the PLUS Rules for Issuers and hence the need
for a suspension. The Company will update the market with further particulars
of the transaction as soon as possible.

The Company is in the process of conducting due diligence on Prime and its
assets and no binding agreement has yet been entered into by the Company in
relation to the Proposed Transaction.

The Directors of the Company have resolved to make this announcement in light
of the fact that Prime proposes to raise funding (through means of a private
placing) prior to the Proposed Transaction and will, as part of such fund
raising, disclose the name of the Company, being the proposed acquirer under
the terms of the Proposed Transaction.

Given this, in accordance with best practice and the regulatory guidance, the
trading of the Company's shares is to be immediately suspended pending
completion of the Proposed Transaction which is expected to take place in
Quarter 1 of 2010.

Finally, in light of the Proposed Transaction, the Company wishes to re-state
its overview to include investment opportunities, if deemed commercially
appropriate, not only in the Eastern and Central Asia regions but also Western
Asia, which includes the Middle East. The appropriate changes will be made to
the PLUS records and website.

The directors of Phoenician Corporation V Limited take responsibility for this
announcement.

Contact:

Jason Futko
Phoenician Corporation V Limited
7th Floor
Fairmount Building
Sheikh Zayed Road
PO Box 24459
Dubai, U.A.E.
T: 971 4312 4393
F: 971 4312 4394
M: 971 50 283 6533

Gerard Thompson & John May
City & Westminster Corporate Finance LLP
2nd Floor, Stanmore House
29-30 St James's St.
London SW1W 1HB
T: 020 7766 0080
F: 020 7839 5870
E: gthompson@city-westminster.com or jmay@city-westminster.com

END