The board of directors of Chinney Alliance Group Ltd. announced Mr. Philip Bing-Lun Lam has been appointed as an executive director of the Company with effect from August 17, 2012. Mr. Lam is an independent non-executive director of China New Town Development Company Limited. Mr. Alexander Yan-Zau Fang has been appointed as an independent non-executive director of the Company with effect from August 17, 2012.

Mr. Fang, aged 41, has been a non-executive director of Hing Lee (HK) Holdings Limited. Mr. Yuen-Tin Ng, an independent non-executive director and a member of the audit committee and remuneration committee of the Company, has been appointed the chairman of the audit committee with effect from August 17, 2012.