The board of directors of China Merchants Land Limited announced that, as recommended by the company's ultimate controlling shareholder, China Merchants Group Limited, due to Mr. He Jianya's personal reason, the Board has resolved to remove Mr. He as a non-executive director of the company, the chairman of the Board and the chairman of the nomination committee of the Company, all with effect from 27 August 2015. Apart from the termination of Mr. He's directorship with the company, the Board is not aware of any disagreement between Mr. He and the Board or any matters that need to be brought to the attention of the shareholders of the company in relation to the removal of Mr. He. The Board also considers that the removal of Mr. He from his directorship with the Company will not have any adverse effect on the operations of the company and its subsidiaries.

The Board is also announced that Ms. Wu Zhenqin, a non-executive director of the company, was appointed as the chairman of the Board and the chairman of the nomination committee of the company, all with effect from 27 August 2015.