The board of directors of Kasen International Holdings Ltd. announced that Mr. Zhang Yuchuan has been appointed an independent non-executive director and a member of the audit committee and remuneration committee of the Company, with effect from March 1, 2012. From 2001 to 2006, Mr. Zhang served an independent director of Hubei Guangji Pharmaceutical Co. Ltd. Further, Mr. Zhang is an independent non-executive director of Shenzhen Mingwah Aohan High Technology Corporation Limited and an independent non-executive director of Tiandi Science and Technology Co. Ltd. The Board further announces that Dr. Li Qingyuan has resigned as the independent non-executive director and a member of the audit committee and remuneration committee of the Company, with effect from March 1, 2012, due to the increased demands of her other business commitments. The Board further announces that a nomination committee of the Company comprising Mr. Sun Steve Xiaodi as the chairman and member, and Mr. Zhou Lingqiang and Mr. Zhang Mingfa, Michael as members has been established by the Board with written terms of reference with effect from March 1, 2012.