The board of directors of Phoenix Satellite Television Holdings Limited announced that Dr. Lo Ka Shui has tendered his resignation as an Independent Non-executive Director and a Member of the Remuneration Committee of the company by reason of his commitments on other business endeavors, with effect from 1 August 2016. Dr. Lo has confirmed that there is no disagreement with the Board and there is no matter relating to his resignation that needs to be brought to the attention of the holders of securities of the company or The Stock Exchange of Hong Kong Limited.