The board of directors of Pioneer Global Group Limited announced that Ms. Jane Tsui Kwai Ying decided to retire as an executive director and authorized representative of the company with effect from 28 March 2013 and Mr. Lee Kam Hung, Alan will be appointed as an executive director and authorized representative of the company effective from 1 April 2013. Ms. Tsui decided to retire as an executive director and authorized representative of the company with effect from 28 March 2013. She confirmed that there was no disagreement between her and the Board and there is no other matter in relation to her retirement that needs to be brought to the attention of the shareholders of the company.

Following the retirement of Ms. Tsui, Mr. Lee will be appointed as an executive director and authorized representative of the company effective from 1 April 2013.