The Board of Clear Media Ltd. announced that the service contract dated 7 December 2012 entered into between Mr. Mark Lance Thewlis and the company, pursuant to which Mr. Thewlis was appointed as the Executive Chairman of the company, shall expire on 31 December 2015. The Board and Mr. Thewlis have reached a mutual agreement not to renew his service contract, upon the expiry of which he shall cease to act as the Executive Chairman of the company with effect from 1 January 2016. The company and Mr. Thewlis will together actively search for an appropriate candidate as Mr. Thewlis' successor.

The appointment of the new Executive Chairman will be announced in due course.