The board of directors of Midland IC&I Limited announced that Mr. WONG Tsz Wa, Pierre has tendered his resignation as the Deputy Chairman and the Executive Director of the company but will act as the Strategic Director of the company with effect from November 23, 2012 due to repositioning of top management within Midland Holdings Limited and its subsidiaries. Mr. WONG confirmed that he has no disagreement with the board and there is no other matter relating to his resignation that needs to be brought to the attention of the shareholders of the company.