Persuant to Commercial Act Article 354 and Incorporation Article 16, Pan Ocean Co., Ltd. designates the shareholders whose names appear in the register of shareholders by 18th May, 2015 as the shareholders who shall exercise the voting right at the meeting of related persons which will be held on 12th June, 2015, so the company suspends changes of new entries in the register of shareholders during the period from 19th May, 2015 to 12th June, 2015.

30th April, 2015

  Huamro 98, Jung-gu, Seoul, South Korea

   Pan Ocean Co., Ltd. CEO Kim You Sik

  transfer agent Korea Securities Depository CEO You Jae Hoon