General Announcement::USE OF PROCEEDS FROM THE PRIVATE PLACEMENT OF 332,727,273 NEW ORDINARY OLAM SHARES

Issuer & Securities

Announcement Title: General Announcement
Date &Time of Broadcast: 02-Nov-2015 17:51:32
Status: New
Announcement Sub Title: USE OF PROCEEDS FROM THE PRIVATE PLACEMENT OF 332,727,273 NEW ORDINARY OLAM SHARES
Announcement Reference: SG151102OTHRO4VL
Submitted By (Co./ Ind. Name): Shekhar Anantharaman
Designation: Executive Director
Description (Please provide a detailed description of the event in the box below): USE OF PROCEEDS RAISED FROM THE PRIVATE PLACEMENT OF 332,727,273 NEW ORDINARY SHARES IN THE CAPITAL OF OLAM INTERNATIONAL LIMITED

Olam International Limited (the "Company") refers to its announcements dated 28 August, 7 September, and 15 September 2015 (the "Announcements") in connection with the subscription of 332,727,273 new ordinary shares in the Company by Mitsubishi Corporation (the "Placement").

Unless otherwise defined herein, all capitalised terms used in this announcement shall bear the same meanings as in the Announcements.

The Board of Directors of the Company wishes to update on the use of the net proceeds amounting to approximately S$915.0 million ("Net Proceeds") raised from the Placement completed on 15 September 2015.

The Company refers to the completion of the acquisition of ADM s worldwide cocoa business announced on October 17, 2015 (the "Acquisition"). The Group has fully utilised all the Net Proceeds as part consideration for the Acquisition.