Fortbridge Media Release

QMASTOR Limited [ASX: QML] - Clarification of statements reported in the media attributable to TPT

QMASTOR Limited (ASX: QML) wishes to clarify statements made by Triple Point Technology (TPT) to the Australian media regarding their proposed takeover offer for QML, announced on 23 June 2011.

Several statements have been made by TPT since 23 June 2011 regarding prior discussions between TPT and QML but those statements have unfortunately omitted some key facts.

Specifically,
� contrary to what is implied by TPTs media statements, the offer process was not a mere two weeks, but extended over nearly 6 months, with QMASTOR co-operating extensively with TPT during that period, including providing considerable financial information and projections to TPT, QMLs Managing Director meeting with TPT in the US and the preparation of a detailed information memorandum;

� prior to discussions commencing, the QML board indicated that it would only be prepared to consider a proposal which valued QML in excess of $30m;

� on the subject of price, TPT noted in correspondence with QML that it was aware of QMLs 12 month-high valuation of $26.5m (the equivalent of 32.9 cents per share) in January 2010 and its earlier market valuation of $30m (the equivalent of 37.3 cents per share), and said We are prepared to pay at, or in excess of these highs, should our due diligence confirm the highs of your current projections and also said that they were prepared to proceed further with negotiations with the understanding that any final Definitive offer will clear these highs�;

� TPT then, by letter dated 24 May 2011, provided an indicative offer to QML of 27 cents per share, valuing QML at $21.7m, which was subject to a number of conditions, including further due diligence, and demanded a response within 10 business days;

� despite the information provided by QML during earlier due diligence appearing to support valuations in the higher range, the letter containing the offer provided no explanation about why TPT had materially changed its position;

� given the significant disparity between the values which had been discussed between QML and TPT and the price proposed in the indicative offer letter, QMLs board needed time to understand why the difference had arisen and sought an extension of the time allowed to understand the offer better, and to see if there may be ways of bridging the valuation gap. In response to the request for a two week extension, TPT offered one day, not the one week which it has been reported that TPT has told the media;

� QML wrote again to TPT on 22 June, after the TPT indicative offer had lapsed, seeking to re-engage with TPT on the value issue, but TPT responded with the issue of the takeover bid.

The Board of Directors of QML believe that the facts and context set out above demonstrate that QML did not fail to engage with TPT over the bid as alleged in various media statements by TPT.

For further information, please contact:

Trent Bagnall � Managing Director
Phone: +61 2 4908 2222
Email:
Web:

For media enquiries:

Fortbridge
Phone:+612 9331 0655
Peter-John Lewis + 61 (0) 416 290 604

Bill Kemmery +61 (0) 400 122 449