The Board of Directors of World Precision Machinery Limited announced that due to an internal restructuring of the group's management team, with immediate effect:- Mr. Tao Guoyuan has been promoted from Deputy General Manager to Chief Marketing Officer and General Manager of World Precise Machinery Marketing Company; and Mr. Ge Baoping, a member of the key management team of the Group, has been re-designated from Chief Marketing Officer and General Manager of World Precise Machinery Marketing Company to Purchasing Manager of World Precise Machinery (China) Co. Ltd.; Mr. Li Wenyu has resigned as the General Manager of World Heavy Machine Tools (China) Co. Ltd. and World CNC Machine Tool (Jiangsu) Co.

Ltd. with immediate effect and transferred to a related party company, Jiangsu World Machinery and Electronics Group. Co. Ltd. The company's CEO, Mr. Wu Yufang, will take over as the General Manager of the subsidiary companies.