OLYMPIC Announces Management Change

The Company has informed that the Board of Directors has approved execution of a Tripartite Agreement with R.B. Group of Companies Ltd. and its agent Mr. Mohammod Sirajul Islam for manufacture of Walton Brand UM-3 (R-6), Size-AA and UM-4 (R-03), Size-AAA, 1.5V, Mercury and Cadmium free Drycell Battery in its factory as per their requirement and to supply those to them or to their appointed agent against approved rates. The detailed terms and conditions for manufacture and supply shall contain in the agreement which will remain valid initially up to December 31, 2014 with provision for renewal under mutually agreed terms.