Dynasty Fine Wines Group Limited announced that due to the need to devote his time and attention to the new position of the chairman of Board of Supervisors of State-owned Enterprises of Tianjin City of the People's Republic of China to which he has been appointed in January 2014, Mr. Bai Zhisheng (Mr. Bai) has tendered his resignation as an executive Director with effect from January 29, 2014. Mr. Bai also ceased to be the chairman of the Board and the chairman of the nomination committee of the Board with effect from January 29, 2014. Mr. Hao Feifei, general manager and executive director of the Company, has been appointed by the Board as the chairman of the Board and as the chairman of the nomination committee of the Board with effect from January 29, 2014.