Cowell E : (E) Appointment of Co-CEO and Executive Director

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Cowell e Holdings Inc.

高偉電子控股有限公司

(Incorporated in the Cayman Islands with limited liability)

(Stock code: 1415) APPOINTMENT OF CO-CHIEF EXECUTIVE OFFICER AND EXECUTIVE DIRECTOR

The Board announces that:

1. Mr. Seong Seokhoon has been appointed as the co-chief executive officer of the Company with effect from 18 May 2017; and

2. Mr. Lee Dong Goo has been appointed as an executive Director with effect from 18 May 2017.

APPOINTMENT OF CO-CHIEF EXECUTIVE OFFICER AND EXECUTIVE DIRECTOR

The board (the "Board") of directors (each a "Director") of Cowell e Holdings Inc. (the "Company" and together with its subsidiaries, the "Group") announces that Mr. Seong Seokhoon ("Mr. Seong") has been appointed as the co-chief executive officer (the "Co-CEO") of the Company with effect from 18 May 2017 and Mr. Lee Dong Goo ("Mr. Lee") has been appointed as an executive director (the "Executive Director") of the Company with effect from 18 May 2017.

Biographies

The biographical details of Mr. Seong and Mr. Lee are set out as follows:

Mr. Seong Seokhoon, aged 53, is an executive Director and the chief financial officer of the Company. Mr. Seong is responsible for supervising the financial operation of the Group. Prior to joining the Group in May 2003 as the chief executive officer of Cowell Electronics Co., Ltd. ("Cowell Korea"), a stock corporation incorporated under the laws of Korea, which is a subsidiary of the Company, Mr. Seong worked at the planning department at LG Chem Ltd. as an assistant manager between January 1989 and December 1994 and the financial affairs and planning department at Woobang Construction Co., Ltd., a Korean company engaged in the construction business, as a senior manager between January 1995 and February 2001. In the periods between November 2001 and May 2003 and between October 2008 and May 2012, Mr. Seong served as the chief executive officer of DSD marketing, a marketing agency based in Korea, and from August

2007 to September 2008, he served as a director of Cowell Korea. From May 2003 to September 2008, Mr. Seong served as the chief executive officer of Cowell Korea. He was appointed as the chief financial officer of Dongguan Cowell Optic Electronics Co., Ltd. ("Cowell China") in May 2012 and as a director of Cowell Optic Electronics Limited in December 2012. Mr. Seong was appointed as a Director on 17 December 2012. He was re-designated as an executive Director on 14 April 2014 and was appointed the chief financial officer of the Company in October 2014. Mr. Seong has been redesignated as the chairman of the Board on 1 March 2016. Mr. Seong received a bachelor's degree in accounting from Kyungpook National University in Korea in February 1989.

Mr. Lee Dong Goo, aged 44, has been the executive director of Cowell China since September 2016. Mr. Lee is responsible for overall camera research and development ("R&D") and engineering division of Cowell China. Prior to joining Cowell China in September 2011 as a camera technology and test process manager, Mr. Lee had worked at Samsung Techwin Co., Ltd. and Samsung Electronics Co., Ltd. as a camera system senior engineer from May 2001 to August 2011 and engaged in the satellite image development and sensor modeling of aerospace and photogrammetry, as a research associate at Electronics and Telecommunications Research Institute, a national research center based in Korea from March 1999 to April 2001. In December 2012, Mr. Lee was promoted to a director of Cowell China as a R&D head and remained in that position until August 2016. Mr. Lee has around 18 years of experiences in high camera technologies, camcorder development and very valuable insight and technical experiences through lots of global customers. Mr. Lee received a master's degree of digital photogrammetry in civil engineering from Inha University in Korea in February 2001. Service Contracts

Mr. Seong has entered into a service contract with the Company under which he agreed to act as an executive Director for an initial term of three years commencing from 10 March 2015, which may be terminated by not less than three months' notice in writing served by either Mr. Seong or the Company. Such appointment is subject to provisions relating to retirement by rotation and re- election in accordance with the articles (the "Articles") of association of the Company. Mr. Seong and the Company will not enter into a new service contract for his appointment as the Co-CEO. Mr. Seong is entitled to a remuneration of KRW250,000,000 per annum (equivalent to approximately US$222,400 per annum) as an executive Director, which has been approved by the Board having considered his responsibilities and duties, the Company's remuneration policy and the prevailing market standards. No additional remuneration will be paid to Mr. Seong for his appointment as the Co-CEO.

Mr. Lee has entered into a service contract with the Company under which he agreed to act as executive Director for an initial term of three years commencing from 18 May 2017, which may be terminated by not less than three months' notice in writing served by either Mr. Lee or the Company. Pursuant to the Articles, Mr. Lee will hold office until the next following general meeting of the Company and shall then be eligible for re-election at the meeting. Thereafter, the appointment of Mr. Lee is subject to the provisions relating to retirement by rotation and re-election in accordance with the articles of association of the Company. Mr. Lee is entitled to a remuneration of KRW200,000,000 per annum (equivalent to approximately US$177,900 per annum) as an executive Director, which has been determined and approved by the Board having considered his responsibilities and duties, the Company's remuneration policy and the prevailing market standards.

As at the date of this announcement, within the meaning of Part XV of the Securities and Futures Ordinance (Chapter 571, Laws of Hong Kong) (the "SFO"), both Mr. Seong and Mr. Lee are interested in 1,000,000 underlying shares of the Company under share options granted to them on 30 October 2015 under the share option scheme adopted by the Company pursuant to a resolution passed by the shareholders of the Company on 4 February 2015. Save as disclosed above, each of Mr. Seong and Mr. Lee does not have, and was not deemed to have, any interests or short positions in any shares, underlying shares or debentures of the Company or any of its associated corporations which is required to be disclosed under Part XV of the SFO.

Save as disclosed above, each of Mr. Seong and Mr. Lee (i) does not hold any position with the Company or other members of the Group; (ii) does not have any relationship with the Directors, senior management, substantial or controlling shareholders (as defined in the Rules (the "Listing Rules") Governing the Listing of Securities on The Stock Exchange of Hong Kong Limited)) of the Company; and (iii) has not held any directorship in public companies the securities of which are listed on any securities market in Hong Kong or overseas in the past three years.

Save as disclosed above, there is no other information which is required to be disclosed pursuant to the requirements of Rule 13.51(2)(h) to (v) of the Listing Rules and there are no other matters relating to each of Mr. Seong and Mr. Lee which the Board considers necessary to be brought to the attention of the shareholders of the Company.

The Board would like to express its warmest welcome to Mr. Lee in joining the Board.

By order of the Board

Cowell e Holdings Inc. Seong Seokhoon

Chairman

Hong Kong, 18 May 2017

As at the date of this announcement, the Board comprises Mr. Kim Kab Cheol, Mr. Seong Seokhoon and Mr. Lee Dong Goo as executive Directors; Mr. Kim Chan Su, Dr. Song Si Young and Mr. Andrew Look as independent non-executive Directors.