The Board of Directors of Challenger Technologies Ltd. would like to announce the following changes with effect from March 1, 2013: the appointment of Mr. Tan Han Beng and Ms. Tan Chay Boon as an Independent Directors of the company; resignation of Madam Ong Sock Hwee as a Non-Executive Director of the company, member of the Audit Committee, Nominating Committee and Remuneration Committee. Mr. Tan has been appointed member of the Audit Committee, Nominating Committee and Remuneration Committee. Ms. Tan has been appointed member of the Audit Committee, Nominating Committee and Remuneration Committee.