DISCLAIMER - Issued by the Directors and Management of Quadrise Fuels International plc ("The Company")

Research analysts have from time to time published material commenting on The Company. Any opinions, estimates or forecasts regarding The Company's performance made by such analysts are theirs alone and do not represent opinions, forecasts or predictions of The Company or its Management. By distributing such information The Company does not imply its endorsement of or concurrence with such information. The Company does not accept any responsibility whatsoever for the views of these or any other analysts reporting on The Company.