China Ceramics Announces Closing of Underwritten Public Offering of Common Shares

JINJIANG, China, Nov. 24, 2010 /PRNewswire-Asia-FirstCall/ -- China Ceramics Co., Ltd. (Nasdaq: CCCL) ("China Ceramics" or the "Company"), a leading Chinese manufacturer of ceramic tiles used for exterior siding and for interior flooring and design in residential and commercial buildings, announced today that it closed its previously announced underwritten public offering of 3,350,000 shares at a price of $7.75 per share for an aggregate of approximately $26 million gross proceeds.  The total net proceeds of the offering to the Company, after deduction of underwriters' commissions and discounts and estimated transaction expenses, will be approximately $24 million.

The Company intends to apply the net proceeds of the Offering, together with other cash on hand and cash from operations, to purchase additional equipment for its Hengda facility and to expand its Hengdali facility.

Roth Capital Partners, LLC acted as sole book-running manager of the offering with Maxim Group LLC acting as a co-manager.  The Company has granted the underwriters a 45-day option to purchase up to an additional 502,500 shares to cover over-allotments, if any.

The shares were issued pursuant to an effective registration statement previously filed with the Securities and Exchange Commission (the "SEC").  Copies of the final prospectus relating to the offering may be obtained on the SEC's website, www.sec.gov, and by contacting Roth Capital Partners, LLC at 24 Corporate Plaza Drive, Newport Beach, CA 92660, Attention: Equity Capital Markets, Fax: (949) 720-7227 or by e-mail to: rothecm@roth.com.

This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any state or other jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.  The offering may only be made by means of a prospectus.  This information does not purport to be a complete description of the Company's shares or the offering.

About China Ceramics Co., Ltd.:

China Ceramics Co., Ltd., formerly China Holdings Acquisition Corp., is a leading manufacturer of ceramic tiles in China.  The Company's ceramic tiles are used for exterior siding, interior flooring, and design in residential and commercial buildings.

China Ceramics Co., Ltd. Cautionary Statement

All statements included in this press release, other than statements or characterizations of historical fact, are forward-looking statements. Such forward-looking statements are based on our current expectations, assumptions and projections about future events related to our products, industry and business, management's beliefs, and certain assumptions, all of which are subject to change. Forward-looking statements can often be identified by words such as "anticipates," "expects," "intends," "plans," "predicts," "believes," "seeks," "estimates," "may," "will," "should," "would," "could," "potential," "continue," "ongoing," similar expressions, and variations or negatives of these words. These forward-looking statements are not guarantees of future results and are subject to risks, uncertainties and assumptions that could cause our actual results to differ materially and adversely from those expressed in any forward-looking statement. These statements may include, but are not limited to, statements regarding the intended use of the net proceeds from the offering. For a further discussion of the risks and uncertainties which could cause actual results to differ from those contained in the forward-looking statements, see the section entitled "Risk Factors" in the final prospectus relating to the offering. The Company cannot assure that the events and circumstances reflected in any forward-looking statements will be achieved or occur, nor does the Company undertake any obligation to update any forward-looking statements for any reason after the date of this press release.