The board of directors of China Media and Films Holdings Limited announced that Mr. Cheng Yang has resigned as executive director, chief executive officer, chairman, compliance officer and authorized representative of the company with effect from March 28, 2014. The board also announced that Ms. Jiang Di has resigned as executive director and vice president of the company with effect from March 28, 2014. Mr. Cheng and Ms. Jiang have resigned due to their other business commitments which require more of their dedication.

The board announced that Mr. Heung Wah Keung has been appointed as executive director, chairman and authorized representative of the company with effect from March 28, 2014. Mr. Heung is the chairman and executive director of China Star Entertainment Limited. Mr. Heung was the chairman and executive director of Eternity Investment Limited during the period from August 02, 2001 to January 31, 2010 and was also an executive director of the company during the period from August 06, 2009 to January 21, 2010.