The board of directors of China Fortune Holdings Limited announced that on the date hereof Mr. Fung Oi Ip, Alfonso has tendered his resignation as non-executive director of the company and Mr. Chen Yi Gang has tendered his resignation as independent non-executive director of the company, both with effect from June 5, 2012. Mr. Fung resigned for the reason that he could devote more time to his professional practice. Mr. Chen resigned for the reason that he could devote more time to his own business engagement. Accordingly, Mr. Fung also resigned as a committee member of the audit committee and as a committee member of the remuneration committee of the company, and Mr. Chen also resigned as a committee member of the nomination committee of the company, both with effect from June 5, 2012. The Board announces that Dr. Law Chun Kwan is appointed as an independent non-executive director of the company with effect from June 5, 2012. Dr. Law is also appointed as a committee member of the audit committee and as a committee member of the nomination committee of the Company with effect from the same date. Dr. Law, aged 46, has extensive working experience in various business fields including advertising, telecommunications, information technology and real estate development in both Hong Kong and the PRC. Furthermore, Mr. Lau Siu Ying, the chairman and an executive director of the company, is appointed as a committee member of the remuneration committee of the company, with effect from June 5, 2012.