CHINA ENERSAVE LTD: NOTICE OF A SUBSTANTIAL SHAREHOLDER'S INTEREST

Notice of Interest/Change in Interest
* Asterisks denote mandatory information
Name of Announcer *	CHINA ENERSAVE LTD
Company Registration No.	199706776D
Announcement submitted on behalf of	CHINA ENERSAVE LTD
Announcement is submitted with respect to *	CHINA ENERSAVE LTD
Announcement is submitted by *	Tan Ching Chek
Designation *	Company Secretary
Date & Time of Broacast	08-Sep-2010 17:28:30
Announcement No.	00050
Price Sensitivity	No

>> Announcement Details

The details of the announcement start here ...

>> Part I
1. Date of notice to issuer *	08/09/2010
2. Name of Substantial Shareholder *	Phillip Ventures Enterprise Fund 2 Ltd
3. Please tick one or more appropriate box(es): *
- Notice of a New Substantial Shareholder's interest. [Please complete Part II and IV]

>> Part II
1. Date of change of Interest	06/09/2010
2. Name of Registered Holder	Phillip Ventures Enterprise Fund 2 Ltd
3. Circumstance(s) giving rise to the interest or change in interest	# Others
# Please specify details	Phillip Ventures Enterprise Fund 2 Ltd ("PVEF2") invested in Hivern Investments Ltd ("Hivern"), a subsidiary of China Enersave Limited ("CEL"), by way of granting a secured loan. When CEL and its subsidiaries went into financial difficulties, a Scheme of Arrangement was entered into between CEL and its Scheme Creditors; PVEF2 is one of the Scheme Creditors. PVEF2 is allotted 87,500,000 new shares ("Debt Conversion Shares") at an issue price of S$0.08 per Debt Conversion Share to facilitate the discharge CEL's corporate guarantee given to PVEF2 on the secured loan granted to Hivern. The allotment of Debt Conversion Shares is pursuant to the Debt to Equity Conversion Exercise as approved by the Scheme Creditors under the Scheme of Arrangement sanctioned by the High Court of the Republic of Singapore.
4. Information relating to shares held in the name of the Registered Holder
No. of Shares held before the change	0
As a percentage of issued share capital	0 %
No. of Shares which are subject of this notice	87,500,000
As a percentage of issued share capital	6.35 %
Amount of consideration (excluding brokerage and stamp duties) per share paid or received	0.08
No. of Shares held after the change	87,500,000
As a percentage of issued share capital

>> Part III
1. Date of change of [Select Option]
2. The change in the percentage level	From % to %
3. Circumstance(s) giving rise to the interest or change in interest	[Select Option]
# Please specify details
4. A statement of whether the change in the percentage level is the result of a transaction or a series of transactions

>> Part IV
1. Holdings of Substantial Shareholder, including direct and deemed interest:
	Direct	Deemed
No. of shares held before the change	0	0
As a percentage of issued share capital	0 %	0 %
No. of shares held after the change	87,500,000	0
As a percentage of issued share capital	6.35 %	0 %

Footnotes

The percentage of interest is computed based on CEL's issued share capital of 1,378,658,809 ordinary shares as at 6 September 2010. Phillip Ventures Enterprise Fund 2 Ltd ("PVEF2") is a company incorporated in Singapore. It is a private equity investment fund managed by Phillip Private Equity Pte Ltd ("PPE") on a full discretionary basis. PPE holds the only issued ordinary share of PVEF2 and the preference shares in the capital of PVEF2 are held mainly by institutional investors and high net worth individuals. The ultimate holding company of PPE is Phillip Investment Corporation Pte. Ltd.("PIC") and PIC is majority-owned by Mr Lim Hua Min. PPE, PIC and Mr Lim Hua Min are all deemed interested in the shares of China Enersave Ltd held by PVEF2. This announcement has been prepared by the Company and its contents have been reviewed by the Company's Sponsor, Stamford Corporate Services Pte Ltd, for compliance with the relevant rules of the Exchange. The Company's Sponsor has not independently verified the contents of this announcement. This announcement has not been examined or approved by the Exchange and the Exchange assumes no responsibility for the contents of this announcement including the correctness of any of the statements or opinions made or reports contained in this announcement. The contact person for the Sponsor is Mr Yap Wai Ming: Tel: [phone] Email: [e-mail]