GP Batteries announced that Champion World , a wholly owned subsidiary of the Company, has will acquire 50% of the issued shares in Aim High Group. Champion World previously acquired 50% of the issued shares in Aim High in 2004. Aim High will become a wholly-owned subsidiary of the Group after the Acquisition. Aim High is an investment holding and trading company with an issued and paid up capital of US$200,000 comprising 200,000 ordinary shares of US$1 each. Aim High and its group companies commenced business in the marketing and distribution of primary and rechargeable batteries in the consumer market in Eastern Europe in 1995. Today, they have marketing and network presence in Eastern Europe including, in particular, Russia. The transaction has a value of US$11 million.