Best World International says unit Best World (Qingdao) Health Sciences Company has entered into an equity transfer agreement and joint venture agreement with Daeha Trading Co. to acquire 70% equity interest in Weihai Leempia Household Chemicals Co.

Dahae Co. is a trading company incorporated in South Korea. China-incorporated Leempia Co. is a wholly-owned subsidiary of Dahae Co. Its principal activities include the manufacturing, production and processing of cosmetics and marketing of the skincare and toiletries product.

The purpose of the JV is to enable Best World (Qingdao) to qualify foe the application of a direct selling licence in China. Best World (Qingdao) will proceed to set up a new Good Manufacturing Practice manufacturing facility in Weihai and complete within the next 24 months.

The above transaction will be funded by internal resources and is not expected to have any material impact on the consolidated earnings per share and consolidated net tangible assets per share of the Company for the financial year ending 31 December 2010.