HONG KONG, Mar 31, 2015 - Freetech Road Recycling Technology (Holdings) Limited ("Freetech", or the "Group"; stock code: 6888), a leading and fast-growing service provider in the asphalt pavement maintenance ("APM") industry using "Hot-in-Place" recycling technology, today announced that on 27 March 2015, the Company entered into a cooperation agreement ("Cooperation Agreement") with Jurong City Housing and Urban Rural Development Bureau*, in the Jiangsu Province("Development Bureau").

Pursuant to the Cooperation Agreement, Development Bureau will implement the following projects with total contract amount of approximately RMB500 million in its area, including: 1. road maintenance project with total contract amount of approximately RMB250 million; and 2. road expansion and reconstruction project with total contract amount of approximately RMB250 million ("Construction Projects"). In addition, subject to complying with the relevant regulatory requirement, Construction Bureau will appoint the Company to carry out the Construction Projects. The Company will use its advantages in research and development and construction to assist Development Bureau to launch the Construction Projects and actively participate in the major infrastructure and maintenance management work of Jurong City. The duration of the Construction Projects is estimated to be completed within approximately 2 years. The final signed construction agreement shall include detailed terms of the Construction Projects and such terms shall prevail.

About Hot-in-Place Technology

Hot-in-Place Technology is used in asphalt pavement maintenance, an on-site, in-place technology that rehabilitates deteriorated asphalt pavements through heating, scarifying and mixing the damaged asphalt materials with new materials and thereby minimises the use of new materials. The primary purpose of this process is to repair pavement damages such as cracks, ruts and holes, and bumps.

About Freetech Road Recycling Technology (Holdings) Ltd

Freetech Road Recycling Technology is the asphalt pavement maintenance ("APM") service provider renowned in the sector for its Road Doctor brand with patented Hot-in-Place Recycling Technology as well as the manufacturer and seller of a wide range of APM equipment. As at 31 December 2014, the Group owned 97 registered patents and had 14 patent applications pending in Hot-in-Place Recycling Technology and related equipment. The Group has also established ten joint ventures and associates across China including Hunan, Inner Mongolia, Jiangsu, Fujian, Xinjiang and Guangdong in order to expand its customer base across the country. www.freetech-holdings.hk.