The board of directors of Weiqiao Textile Co. Ltd. Announced that in order to comply with the forthcoming amendments to the Rules Governing the Listing of Securities on The Stock Exchange of Hong Kong Limited which will be effective on April 1, 2012, Ms. Zhang Hongxia will cease to be the chairman of the Remuneration Committee of the company but remains as a member of the Remuneration Committee and Mr. Wang Naixin, an independent non-executive director of the company who is also an existing member of the Remuneration Committee, be appointed as the chairman of the Remuneration Committee with effect from March 26, 2012. The board announced that resolution has been passed by the board to establish the nomination committee and Ms. Zhang Hongxia, Mr. Wang Naixin and Mr. Xu Wenying have been appointed as members of nomination committee with effect from March 23, 2012. Ms. Zhang Hongxia has been appointed as the chairman of nomination committee with effect from March 26, 2012.