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Fezdale Investments Ltd & Fashion Tech International Inc	Update Date: 08/23/08
Date Announced: 08/14/08
Value (million $USD): 90.5 million U.S. Dollar

Status: Completed

TRANSACTION DETAILS
Date Announced	08/14/08
Date Originally Announced	08/14/08
Format	Merger	Acquisition techniques	Reverse Takeover; Stock Swap
Attitude	Friendly	Agency	n/a
Value	90.5 million U.S. Dollar	Advisor Fees	n/a

SYNOPSIS
British Virgin Islands - Fashion Tech International Inc (FT) acquired all the outstanding stock of Fezdale Investments Ltd, an investment holding company, in exchange for 30.167 mil FT new common shares valued at $90.5 mil. The shares were valued based on FT's closing stock price of $3 on August 13, the last full trading day prior to the announcement.

TARGET
Name	Fezdale Investments Ltd
Industries	Offices of holding companies, nec
City	n/a
State	n/a
Nation	British Virgin
Incorporated in	n/a
Public Status	Private
Business Description	Fezdale Investments Ltd is an investment holding company.
Advisors	NULL
Target Sales	n/a

ACQUIROR
Name	Fashion Tech International Inc (Pink Sheet : FHTI)
Industries	n/a
City	Salt Lake City
State	UT
Nation	United States
Incorporated in	UT
Public Status	Public
Business Description	Fashion Tech International Inc located in Salt Lake City, Utah, is a blank check company formed for the purpose of acquiring other businesses. The company was founded in 1983.
Advisors	NULL
Acquiror Sales	n/a

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