Chong Hing Bank Limited announced that immediately following the completion of the voluntary cash partial offer by Nomura International (Hong Kong) Limited on behalf of Yuexiu Financial Holdings Limited to acquire a maximum of 326,250,000 shares in the capital of the Bank from qualifying shareholders of the Bank, YFHL has become the controlling shareholder of the Bank holding 326,250,000 shares in the capital of the Bank. The Board of the Bank hereby announced the following board composition changes following the completion of the Partial Offer, all with immediate effect: Resignations of Directors: Dr. Liu Lit Mo has resigned as the Chairman and an Executive Director of the Bank, Mr. Liu Lit Chi has resigned as the Deputy Chairman and Managing Director of the Bank, Mr. Wilfred Chun Ning Liu has resigned as an Executive Director of the Bank, Mr. He Jiale has resigned as a Non-executive Director of the Bank, Mr. Hidekazu Horikoshi has resigned as a Non-executive Director of the Bank, Mr. Christopher Kwun Shing Liu has resigned as a Non-executive Director of the Bank, Mr. Meng Qinghui has resigned as a Non-executive Director of the Bank, Dr. Robin Yau Hing Chan has resigned as an Independent Non-executive Director of the Bank and Mr. Timothy George Freshwater has resigned as an Independent Non-executive Director of the Bank. Mr. Zhang Zhaoxing has been appointed the Chairman and a Non-executive Director of the Bank.

Mr. Zhang is the Chairman and Director of Guangzhou Yue Xiu Holdings Limited and Yue Xiu Enterprises (Holdings) Limited and the Chairman and a Non-executive Director of YFHL. Mrs. Leung Ko May Yee Margaret, SBS, JP has been appointed the Deputy Chairman, Managing Director and an Executive Director of the Bank. Mrs. Leung is a member of the Board of Directors and the Finance Committee of the Hospital Authority; the Independent Commission on Remuneration for Members of the Executive Council and the Legislature, and Officials under the Political Appointment System of the HKSAR.

Mr. Zhu Chunxiu has been appointed a Non-executive Director of the Bank. Mr. Zhu is the Vice-chairman and General Manager of Guangzhou Yue Xiu and Yuexiu. He is also a Non-executive Director of YFHL and the Vice-chairman and Executive Director of Yuexiu Property.

Mr. Wang Shuhui has been appointed a Non-executive Director of the Bank. Mr. Wang is a Director and a Deputy General Manager of Guangzhou Yue Xiu and Yuexiu. He is also a Non-executive Director of YFHL.

He is also currently an Executive Director of Yuexiu Transport. Mr. Li Feng has been appointed a Non-executive Director of the Bank. Mr. Li is the Assistant to General Manager of, as well as the General Manager of the Capital Department of Guangzhou Yue Xiu and Yuexiu, and a Director of Guangzhou City Construction & Development Co.

Ltd. Mr. Lee Ka Lun has been appointed an Independent Non-executive Director of the Bank. Mr. Lee is an Independent Non-executive Director of YFHL. He has also been an Independent Non-executive Director of Yuexiu Property since April 2000.