The board of directors of KWG Property Holdings Ltd. announced that Mr. Dai Feng has tendered his resignation as an independent non-executive director of the company with effect from 28 February 2014. According to Mr. Dai's resignation letter, he intends to devote his time to deal with his personal affairs. Mr. Dai has also ceased to be the chairman of the Remuneration Committee and a member of each of the Audit Committee and the Nomination Committee with effect from 28 February 2014.

The position of the chairman of the Remuneration Committee will be taken up by Mr. Tam Chun Fai with effect from the same date.