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15 février 2009 7 15 /02 /février /2009 09:49

(verbatim)

Démenti de Daewoo Logistics

Le groupe Daewoo Logistics a publié un communiqué de presse disponible en anglais sur le site du Ministère malgache de l'Agriculture, de l'Élevage et de la Pêche.

In response to the news recently published by several news papers and radios, locally or internationally,
regarding the investment planning of Daewoo Logistics Corp.(DWL) in Madagascar. Daewoo Logistisc Corp.
would like to officially explain current situation of the investment plan.

1. DWL corp. ,as a private investor, has a strong interest to invest in agriculture field in Madagascar.
2. For the purpose in point 1. DWL has done a land- survey to find a feasible area to cultivate.
3. At this time, there is not yet a contract on the land between DWL and Madagascar Government.
4. There is not yet any discussion about the fee because it will depend on the contract later, therefore the
information released that DWL acquired a land for free is incorrect.
Antananarivo, Friday, November 21, 2008
Daewoo Logistics Corp.

Le groupe Daewoo Logistics a également publié une lettre au Ministre malgache de l'Agriculture, de l'Élevage et de la Pêche.

A letter from Yong-Nam AHN President & CEO. Daewoo Logistics
To His Excellency Minister Marius Ratolojanahary,

Your Excellency Minister Marius Ratolojanahary,

I am honored and always deeply thankful for Your Excellency's sincere interest and support for Daewoo
Logistics Corporation as well as our subsidiary MFE, Daewoo Logistics' legal entity found for the plantation
business in Madagascar.

Your Excellency, I assume that Your Excellency along with many cabinet members, ministers and Malagasy
people were heart broken and disturbed by the series of maliciously insulting jealousy articles aimed at both
Madagascar and Daewoo Logistics from the Financial Times without requesting any interview with any of
employees from Daewoo Logistics. Myself along with ail employees from Daewoo Logistics are also stunned
and sad because of the Financial Times' abusive articles that are full of errors with no information background.

We are very angry at the Financial Times' one sided article aiming at the friendly cooperative business between
the two countries with previous heart broken experience of colonial years. I wish to assure you that the articles
from the Financial Times are totally not intended by Daewoo Logistics. They are solely responsible for
manufacturing the article with their own intention.

We are however fortunate that other major medias such as Bloomberg. AP, AFP and Reuters are publishing fair
and objective opinions.

We are truly committed and have strong intention to develop our plantation business between Madagascar and
Daewoo Logistics so that Madagascar benefits from the project in economy development aspects.

I sincerely hope Malagasy people's well being in addition to Your Excellency's well being. I would like to take
this opportunity to wish Your Excellency's good health and Madagascar's endless flourishing development.

Sincerely yours,

Yong-Nam AHN, President & CEO. Daewoo Logistics



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