Asian Capital Resources (Holdings) Limited announced that Mr. Chu Yat Hong and Mr. Xiao Jing have been appointed as Executive Directors with effect from 22 November 2012. Mr. Chu was Assistant to the Managing Director of Pearl River Investment Group; July 2005 to October 2009, as Managing Director of Guangzhou Pearl River Yunsheng Textile Market Administration Co. Ltd., Guangzhou Pearl River Commercial Real Estate Management Co.

Ltd. and Guangzhou Pearl River Commercial Logistic Investment Co. Ltd. From May 2012 until now, as the Deputy Managing Director of Pearl River Investment Group. Mr. Chu's directorship is subject to retirement by rotation and re-election at annual general meetings of the company in accordance with the articles of association of the company.

Mr. Chu will hold office until the next following annual general meeting of the company and will be eligible for re-election at such annual general meeting in accordance with the articles of association of the company. Mr. Xiao Jing founded the Taylor Investment & Management Consultants Co. Ltd. in China, which mainly engaged in commercial real estate investment and development in Mainland China in 2006.

In addition, Mr. Xiao established AB International Investment Co. and served as chairman in U.S.A. From 2009 to present, he serves as Executive Director of Guangzhou Pearl River Yunsheng Textile Market Administration Co. Ltd. and Guangzhou Pearl River Commercial Real Estate Management Co.

Ltd. His directorship is subject to retirement by rotation and re-election at annual general meetings of the company in accordance with the articles of association of the company. Mr. Xiao will hold office until the next following annual general meeting of the company and will be eligible for re-election at such annual general meeting in accordance with the articles of association of the company.