Mr. George Lunick reports

GEORGE LUNICK ANNOUNCES ACQUISITION OF COMMON SHARES OF PEARL RIVER HOLDINGS LIMITED

Pearl River Holdings Ltd. understands that George Lunick, the president and chief executive officer of Pearl River, acquired 100,000 common shares in the capital of Pearl River at a price of 14.85 cents per common share, representing 0.37 per cent of the issued and outstanding common shares of Pearl River. The common shares were offered and purchased through the facilities of the TSX Venture Exchange for an aggregate purchase price of $14,855.

Immediately before the acquisition, the acquiror and its joint actors (as defined in National Instrument 62-103, The Early Warning System and Related Take-Over Bid and Insider Reporting Issues) owned and controlled 2,791,655 common shares, being approximately 10.22 per cent of the issued and outstanding common shares of Pearl River, and one million options to purchase common shares. Assuming the exercise of the options, the common shares of Pearl River that the acquiror and the joint actors would own or control on such exercise would be 3,791,655 common shares or approximately 13.39 per cent of the common shares of Pearl River on a partially diluted basis.

Immediately after the acquisition, the acquiror and is joint actors owned or controlled 2,891,655 common shares, being approximately 10.59 per cent of the issued and outstanding common shares of Pearl River. Assuming the exercise of the options, the common shares of Pearl River that the acquiror and the joint actors would own or control on such exercise would be 3,891,655 common shares or approximately 13.75 per cent of the common shares of Pearl River on a partially diluted basis.

The securities of Pearl River were acquired for investment purposes. The acquiror reserves the right, directly or indirectly, to acquire ownership or control over additional securities in accordance with applicable securities legislation or from time to time to dispose of any securities of Pearl River that the acquiror may own.

A copy of the early warning report will appear on Pearl River's profile on SEDAR+.

The address of the acquiror and Pearl River is 495 Newbold St., London, Ont., N6E 1K4.

About Pearl River Holdings Ltd.

Through its subsidiaries, Pearl River's principal business is the manufacturing and distribution of plastic products in China, Australia and the United States.