Camco International Limited: Camco Forms Joint Venture With Khazanah Nasional Expanding its Operations in South East Asia

LONDON, September 28, 2010 - Camco International Limited ("Camco", AIM:CAO), a global
developer of emission reductions and clean energy projects, today announces
the formation of a joint venture agreement with Khazanah Nasional
('Khazanah'), the investment holding arm of the Government of Malaysia.

As a partnership between Khazanah, a leading regional investor
with investments in over 50 major companies mainly in South East Asia, and
Camco, a leading global company with a 20 year track record in project
delivery and commercial excellence, the joint venture is strongly positioned
to become the leading player in the emissions to energy market in the region.

The joint venture will be capitalised with up to US$46.05
million to invest in the emissions to energy market in South East Asia, as
well as carbon development and advisory services.

On inception, the joint venture will be capitalised at $30
million, made up of $14.7 million from Khazanah as equity, $10.15 million as
a convertible bond and $5.15 million from Camco as equity investment. In
addition Khazanah has committed to contribute, on an earn-out basis, a
maximum additional consideration of $16.05 million (up to 2013) into the
joint venture subject to the performance of transferred existing carbon
contracts and future carbon contracts to be undertaken by the joint venture.
Camco will also hold a warrant to subscribe for additional equity in the
joint venture of $3.7 million. On inception, Camco will have a 60.1% share
holding in the joint venture and on a fully diluted basis (following the
exercise/conversion of all outstanding warrants and convertible bonds) a 51%
interest.

Camco will contribute its nominal existing carbon projects in
South East Asia (not including its China portfolio) and pipeline, its
emission reduction project development and investment business pipeline for
South East Asia, an employee platform for South East Asia, access to its
global operations including advisory professional services, commercial carbon
sales and qualification of carbon projects through specific service
agreements, use of the Camco brand in South East Asia, and carbon development
costs capitalised at $0.8 million and an investment of $5.15 million.

As part of the transaction, Khazanah will invest GBP1.86
million into Camco through the subscription of 9,280,913 ordinary shares at a
price of 20p per share. Application has been made for the 9,280,913 ordinary
shares to be admitted to trading on AIM. The admission is expected on 30
September 2010. Scott McGregor, Chief Executive Officer of Camco, commented:

"Khazanah is the optimal long term investor for Camco in the
SEA region. The joint venture will leverage Khazanah's unrivalled local
expertise, which will open a whole new vista for our operations in the
region. We look forward to creating a market-leading business together, with
the people, know-how and funding to deliver."

Khazanah's Managing Director, Tan Sri Dato' Azman Hj Mokhtar, said:

"We are very pleased to have formed a JV partnership with
Camco to establish a SEA emission reduction company, which will be at the
forefront of shaping the emission reduction / carbon abatement sector in the
entire SEA region and most importantly in Malaysia. Furthermore, this entity
will also serve as Khazanah's vehicle to grow the sustainable development
sector as part of Malaysia's New Economic Model."

Notes to editors:

About Camco

Camco International Limited (Camco, AIM:CAO) is a global
developer of emission reductions and clean energy projects with operations in
the US, the UK, China, Africa, Russia and SEA.

Camco has a 20 year track record in project development,
technical delivery and policy development, working with local industry,
multinational companies, governments and regulatory bodies.

Camco's Clean Energy Project Development and Investment teams
collaborate with industry, project developers, equipment providers and
investor groups to create emissions-to-energy projects and maximise
sustainable energy production across a range of industries; including
agricultural methane, industrial energy efficiency, coal mine methane,
municipal solid waste, biomass and landfill gas.

The Carbon Project Development business has created one of the
largest emission reductions portfolios and has structured groundbreaking and
innovative arrangements for the sale and delivery of emission reductions to
compliance and voluntary buyers.

The Energy and Carbon Advisory teams provide strategic,
commercial and technical expertise accrued over two decades to deliver low
carbon energy and sustainable development solutions.

www.camcoglobal.com

About Khazanah Nasional Berhad

Khazanah is the investment holding arm of the Government of
Malaysia entrusted to hold and manage the commercial assets of the Government
and to undertake strategic investments. Khazanah is involved in various
sectors such as power, telecommunications, banking, automotive manufacture,
airport management, infrastructure, property development, broadcasting,
semiconductor, steel production, electronics, investment holding, technology
and venture capital. Some of the key listed companies in Khazanah's
investment portfolio include Telekom Malaysia Berhad, Tenaga Nasional Berhad,
CIMB Group, Proton Holdings Berhad, PLUS Expressway Berhad, Malaysia Airlines
System Berhad, Malaysia Airport Berhad, UEM Land Holdings Berhad, Axiata and
Time dotCom Berhad.

www.khazanah.com.my

    Enquiries:

    Camco
    Scott McGregor, Chief Executive Officer
    Yariv Cohen, Chief Carbon Officer
    +44(0)20-7121-6100

    Khazanah
    Mohd. Asuki Bin Abas
    +603-2034-0000

    KBC Peel Hunt (Camco Nominated Adviser and Broker)
    Jonathan Marren
    +44(0)20-7418-8900

    M:Communications (Camco Public Relations Advisor)

    Charlotte Kirkham
    +44(0)20-7920-2331

    Elly Williamson
    +44(0)20-7920-2339

    Patrick d'Ancona
    +44(0)20-7920-2347

    RBS (Khazanah Nasional Adviser)

    Lee Morton
    +44(0)20-7678-1139

    Nikhil Gureja
    +852-3961-3335

Enquiries: Camco, Scott McGregor, Chief Executive Officer, Yariv Cohen, Chief Carbon Officer, +44(0)20-7121-6100; Khazanah, Mohd. Asuki Bin Abas, +603-2034-0000; KBC Peel Hunt (Camco Nominated Adviser and Broker); Jonathan Marren, +44(0)20-7418-8900; M:Communications (Camco Public Relations Advisor); Charlotte Kirkham, +44(0)20-7920-2331; Elly Williamson, +44(0)20-7920-2339; Patrick d'Ancona, +44(0)20-7920-2347; RBS (Khazanah Nasional Adviser), Lee Morton, +44(0)20-7678-1139; Nikhil Gureja, +852-3961-3335