Mongolia Holdings Corp. completes acquisition of QGX Ltd.

    TSX - QGX

    WATERDOWN, ON, Oct. 20 /CNW/ - QGX Ltd. (TSX: QGX) ("QGX") and Mongolia
Holdings Corp. (the "Offeror"), an indirect subsidiary of Kerry Holdings
Limited, announced today that the Offeror has acquired all of the outstanding
shares of QGX not acquired under the Offeror's take-over bid made August 8,
2008, pursuant to the compulsory acquisition procedure under the Business
Corporations Act (Ontario).
    With the completion of the compulsory acquisition, QGX common shares have
been delisted from the Toronto Stock Exchange as of the close of trading on
October 17, 2008. QGX will apply to securities regulators to cease to be a
reporting issuer under Canadian securities laws which, if granted, will
relieve QGX from its public reporting obligations.

For further information:

For further information: Corey MacKinnon, Heenan Blaikie LLP, Phone:
(416) 360-6336

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