News Release Midas Secures New Contract Orders Worth RMB139.3 Million

-- RMB74.6 million metro contract from JV Company NPRT for the Nanjing

Metro Line 3 project

-- RMB64.7 million worth of orders for Siemens AG projects in Russia

and Belgium

SINGAPORE and HONG KONG, July 11, 2012 /PRNewswire-Asia/ -- Midas Holdings Limited ("Midas" or the "Company", together with its subsidiaries, the "Group"; SGX-ST stock code: 5EN; SEHK stock code: 1021) announced today that its Aluminium Alloy Division, Jilin Midas Aluminium Industries Co., Ltd. ("Jilin Midas") has received new orders worth a combined RMB139.3 million from PRC and international customers.

The first contract, worth approximately RMB74.6 million, is awarded by the Group's JV Company Nanjing SR Puzhen Rail Transport Co., Ltd. ("NPRT"). Under the terms of the contract, Jilin Midas will supply aluminium alloy extrusion profiles for 46 train sets (1 train set = 6 train cars), or 276 train cars for the Nanjing Metro Line 3 project.

Delivery for this contract is expected to take place from 2012 to 2014 and is expected to contribute positively to the Group's financial performance for the financial years ending December 31, 2012 to 2014.

In addition, Jilin Midas secured new orders for three Siemens AG projects in Russia and Belgium. The RMB64.7 million worth of orders are for the supply of aluminium alloy extrusion profiles and fabricated parts for Siemens AG's Desiro Mainline Bruxelles project in Belgium and Desiro RUS Sochi and Velaro RUS2 projects in Russia. Delivery for these orders is expected to take place progressively from 2012 to 2013 and is expected to contribute positively to the Group's financial performance for the financial years ending December 31, 2012 and 2013.

Commenting on the Group's latest contract wins, Mr. Patrick Chew, CEO of Midas, said, "Our latest contracts once again attest to Midas' ability to participate in opportunities within the rail sector both in the PRC and internationally. Supported by our distinguished capabilities as a quality manufacturer of aluminium alloy extrusion products and long-standing relationships with major railway players, we are optimistic of capturing new business opportunities in the PRC as well as internationally."

About Midas Holdings Limited

Founded in 2000, Midas is today the leading manufacturer of aluminium alloy extrusion products for the passenger rail transportation sector in the PRC. Over the years, Midas has built an established track record in supplying to the PRC passenger rail transportation sector, which includes participation in landmark contracts such as trains for the Beijing-Tianjin High Speed Train Project, and inter-city high speed trains for the CRH3-380 Project. Midas' customers include domestic PRC licensed train manufacturers from China South Locomotive & Rolling Stock Corporation Limited and China CNR Corporation Limited, as well as international customers such as Alstom Transport, Siemens AG and Bombardier Transportation.

Midas has a strategic 32.5% stake investment in Nanjing SR Puzhen Rail Transport Co., Ltd. ("NPRT"), an associate company engaged in the development, manufacturing and sale of metro trains, bogies and their related parts. NPRT is one of the four Licensed Metro Manufacturers licensed to undertake metro train projects on a nationwide basis in the PRC.

In recognition of its consistent growth and profitability, Midas is one of only six companies, and the only aluminium alloy extrusion products manufacturer, in Asia to be included in Forbes Asia's "Best Under A Billion" list for four consecutive years from 2006 to 2009. The Company was also awarded the "Best Investor Relations Award (Gold)" at the Singapore Corporate Awards 2010 in the "S$300 million to less than S$1 billion market capitalisation" category. As testament to its strong brand name and reputation in the PRC, Midas was conferred the prestigious "China Well-Known Trademark" by the Trademark Office of the State Administration for Industry & Commerce of the PRC ("SAIC") in 2011.

SOURCE　Midas Holdings Limited