Pala reduces investment in Neo Material Technologies Inc.

TORONTO, Sept. 2, 2011 /CNW/ - Pala Investments Holdings Limited ("PIHL") announced today that during the period from October 25, 2010 to September 1, 2011, it reduced its investment in Neo Material Technologies Inc. through the sale of Neo shares.

PIHL now owns and controls 11,931,450 Neo common shares representing 9.94% of Neo's outstanding common shares. The Neo common shares were sold in the ordinary course through the Toronto Stock Exchange.

PIHL holds the Neo common shares for investment purposes and may increase or decrease the investment in the ordinary shares depending upon future market conditions.

PIHL's address is 12 Castle Street, St. Helier, Jersey JE2 3RT. For further information please refer to the Early Warning Report posted on SEDAR or contact Colin Murray at 011 41 41 560 9070.

About Pala

Pala Investments Holdings Limited is a multi-strategy investment company dedicated to investing in, and creating value across, the mining sector in both developed and emerging markets. Pala Investments' exclusive investment advisor, Pala Investments AG, has extensive experience within the mining sector. Pala Investments seeks to assist companies in which it has long-term shareholdings by providing strategic advice and innovative financing solutions.  For more information, visit www.pala.com.

Certain statements in the press release are forward-looking statements and are prospective in nature, including statements with respect to Pala's future intentions regarding the securities of Elemental that it owns. Forward-looking statements are not based on historical facts, but rather on current expectations and projections about future events, and are therefore subject to risks and uncertainties which could cause actual results to differ materially from the future results expressed or implied by the forward-looking statements. These statements generally can be identified by the use of forward-looking words such as "may", "should", "will", "could", "intend", "estimate", "plan", "anticipate", "expect", "believe" or "continue", or the negative thereof or similar variations. Such statements are qualified in their entirety by the inherent risks and uncertainties surrounding future expectations. Such forward-looking statements should therefore be construed in light of such factors, and Pala is not under any obligation, and expressly disclaims any intention or obligation, to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.

SOURCE Pala Investments Holdings Limited

For further information:

Colin Murray at 011 41 41 560 9070

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Pala Investments Holdings Limited

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