The Board of Auto Italia Holdings Limited announced that Mr. WONG has tendered his resignation as an executive Director, the Chief Financial Officer and the Company Secretary of the company with effect from 30 December 2013 due to his other business engagements. Mr. WONG has also tendered his resignation as a member of the Executive Directors' Committee of the Board and an authorised representative of the company under Rule 3.05 of the Listing Rules with effect from the same date. Mr. WONG confirms that he does not have any disagreement with the Board and that he is not aware of any matter in relation to his resignation that needs to be brought to the attention of the shareholders.

The Board would like to announce that Mr. Terence Ping Cho HON has been appointed as the Chief Financial Officer and the Company Secretary of the company, and the Authorised Representative with effect from 30 December 2013. Mr. HON has substantial experience in auditing, accounting and financial management. Prior to joining the company, he worked in an international accounting firm before he was appointed to various senior financial positions in a number of listed companies in Hong Kong.