The board of directors of Tai Ping Carpets International Limited ('the company') announced the resignation of Mr. Ian Duncan Boyce as Non-Executive Director of the company with effect from the close of the annual general meeting of the company to be held on May 23, 2014. Mr. Boyce has been a Director of the company for over 14 years and has decided to retire and live overseas. The Board further announced that Mr. Andrew Clifford Winawer Brandler will be proposed to be elected as Non-Executive Director of the company at the 2014 AGM which will become effective upon his election at the 2014 AGM.

From May 2000 to September 2013, Mr. Brandler was the Group Managing Director and Chief Executive Officer of CLP Holdings Limited. Mr. Brandler will remain as an Executive Director of CLP Holdings Limited until March 31, 2014.