The Board of Directors of China Outfitters Holdings Limited announced that Mr. Wang Hai has tendered his resignation as the vice president of the company with effect from 31 December 2014 to allow him to devote more time for his personal commitments. Mr. Wang has confirmed that he has no disagreement with the Board and there is no matter necessary to be brought to the attention of the shareholders of the company or The Stock Exchange of Hong Kong Limited in respect of his resignation.