Saturn Petrochemical Holdings Limited to Hold Titan Petrochemicals Group Limited Bondholders' Conference Call on Restructuring Proposal

HONG KONG, Aug. 31, 2012 /PRNewswire/ -- Saturn Petrochemical Holdings Limited ("SPHL"), an affiliate of Warburg Pincus LLC, and SouthernPec Corporation have formed a joint venture company for the purposes of submitting a detailed proposal ("Proposal") to restructure Titan Petrochemicals Group Limited ("Listco") to joint provisional liquidators, who are expected to be appointed by the Bermuda Court on September 18, 2012, pursuant to a petition and a summons filed by SPHL on July 5, 2012 and August 24, 2012 respectively.

SPHL will host a Listco bondholders' conference call to outline the Proposal at
5:00p.m. Beijing/Hong Kong Time on Tuesday, September 4, 2012.

For media enquiries, please contact:
Pui Shan Lee
FTI Consulting
+86 21 5108 8002 ext.178
[email protected]

SOURCE Saturn Petrochemical Holdings Limited