SINGAPORE, Dec. 1, 2012 /CNW Telbec/ – The Richard Chandler Corporation
(“RCC”) announced today that Jasmine Capital Investments Pte Limited
(“Jasmine”) has acquired 62,670,000 common shares (the “Acquired
Shares”) of WesternZagros Resources Ltd. (“WesternZagros”), which
represents approximately 15.21% of the issued and outstanding common
shares of WesternZagros. The Acquired Shares were acquired through the
facilities of the TSX Venture Exchange at a price of C$1.18 per common
share.

As a result of this acquisition and pursuant to applicable Canadian
securities laws, each of Richard Chandler Holdings (“RCH”), RCH’s sole
shareholder, Athena Holdings Limited (in its capacity as trustee of the
Richard Chandler Capital Trust, a discretionary trust) and RCH’s direct
wholly-owned subsidiary, Richard Chandler Pte Limited (which owns the
common shares of Jasmine), is deemed to beneficially own the Acquired
Shares.

The Acquired Shares are held for investment purposes. Jasmine, RCH,
Richard Chandler Pte Limited and Athena Holdings Limited (in its
capacity as trustee of the Richard Chandler Capital Trust, a
discretionary trust) may, from time to time and at any time, subject to
applicable securities laws, acquire additional common shares of
WesternZagros and/or other equity, debt or other securities or
instruments (collectively, “Securities”) of WesternZagros in the open
market or otherwise may dispose of any or all of its Securities in the
open market or otherwise, at any time and from time to time, and engage
in any hedging or similar transactions with respect to the Securities,
in each case subject to applicable securities laws.

About the Richard Chandler Corporation

The Richard Chandler Corporation is an international business group
founded by New Zealand-born entrepreneur Richard F. Chandler. The
Richard Chandler Corporation builds and operates businesses in energy,
consumer and financials, healthcare, and education, with operations in
Asia and the Pacific, Africa, the Americas, Europe, and the Middle
East. The Corporation’s vision of Building Great Companies and Great
Nations reflects its belief in the power of business to drive national
prosperity. In all its work, the Corporation places a special emphasis
on good corporate governance as a crucial element of business
sustainability and increasing stakeholder value. More information about
the Richard Chandler Corporation is available on its website at www.richardchandler.com.

A copy of the report prepared in connection with the matters disclosed
herein in accordance with applicable Canadian securities laws will be
available at www.sedar.com.

SOURCE Richard Chandler Corporation