INTERNATIONAL RUBBER CONSORTIUM LIMITED

17^th October 2008

IRCo's Board of Directors met on 17^th October 2008 in Bangkok and viewed seriously the recent decline in natural rubber price as a result of the financial crisis that has spread throughout the world.

IRCo believes that the current decline in rubber price was mainly due to external factors as the fundamentals for natural rubber are relatively strong and the tripartite cooperation can undertake certain concerted measures to improve market sentiments and restore confidence back into the market.

The IRCo's Board of Directors had agreed to a list of all possible options that have to be undertaken by the 3 tripartite countries.

These options are being submitted to the respective National Tripartite Rubber Council (NTRC) of the 3 countries for their deliberation and implementation within the framework of their domestic environment. Thereafter, the IRCo and International Tripartite Rubber Council (ITRC) will meet to consider the final proposal for consideration and adoption of the three respective Ministers for immediate implementation.

The meetings of the IRCo, ITRC and the 3 Ministers are scheduled before the end of this month.