The board of directors of Ares Asia Limited announced that Mr. ZHENG Yong Sheng has entered into a service agreement with the company on 29 July 2014 pursuant to which the appointment of Mr. ZHENG as executive director of the company and chairman of the board is for a term of three years commencing on 29 July 2014. Mr. ZHENG will hold office until the forthcoming annual general meeting of the company to be held on 8 September 2014 and will be subject to retirement by rotation and re-election in accordance with the Bye-laws of the company. The board further announced that each of Mr. RAN Dong and Mr. CHAN Tsang Mo has entered into a letter of appointment with the company on 29 July 2014 pursuant to which the appointment of each of Mr. RAN and Mr. CHAN as executive director of the company is for a term of three years commencing on 9 June 2014.

They will hold office until the AGM and will be subject to retirement by rotation and re-election in accordance with the Bye-laws of the company.