Style Ltd. Refinances Short Term Debt

Melbourne, Australia, May 26, 2009--Style Limited said it has reached an agreement with the Bank of Communications in China to refinance its existing short term bank debt and to provide the company with additional working capital.

The $2.845 million new facility has been established for a duration of three years at a rate of 5.8%. The rate is subject to annual review.

Style will use the facility to repay in full the Agricultural Bank of China RMB 11.5 million outstanding short term debts, which had to be repaid over the next four months, with the balance contributing to additional working capital.

The breakthrough comes six weeks after Style signed a Memorandum of Understanding with Tarkett, to manufacture and sell a range of flooring products based on Style’s proprietary “strand woven” technology across its extensive distribution
network.