The Board of Directors of China Overseas Land & Investment Ltd. announced the following which will take effect from March 19, 2013:- Resignation of Dr. LI Kwok Po, David as an Independent Non-Executive Director of the Company and consequently will cease to be the Chairman and Member of the Audit Committee, Member of the Nomination Committee and Remuneration Committee of the Company; Appointment of Mr. LI Man Bun, Brian David, who possesses the appropriate professional qualifications or accounting or related financial management expertise, as an Independent Non-Executive Director, Chairman and Member of the Audit Committee, Member of the Nomination Committee and the Remuneration Committee of the Company; Resignation of Mr. DONG Daping as an Executive Director of the Company; Appointment of Mr. GUO Yong as an executive director of the Company; and Appointment of Mr. KAN Hongbo as an executive director of the company. Dr. LI decided to resign as an Independent Non-Executive Director of the company due to his wish to spend more time on his other business and charitable commitments. Mr. DONG decided to resign as an executive director of the company, owing to realignment of work duties in the
company. Aged 38, is the Deputy Chief Executive of The Bank of East Asia, Limited. Mr. LI is primarily responsible for BEA's China and international businesses. He was the General Manager and Head of Wealth Management Division of BEA from July 2004 to March 2009. Mr. LI is currently an Independent Non-Executive Director and the Chairman of the Audit Committee of Towngas China Company Limited, and an Independent Non-Executive Director of Hopewell Highway Infrastructure Limited. Mr. LI was an Independent Non-Executive Director of Xinjiang Goldwind Science & Technology Co. Ltd. from March 2010 to June 2011. Mr. LI holds a number of public and honorary positions, including being a Member of the 12th National Committee of the Chinese People's Political Consultative Conference, a Member of the Hong Kong-Taiwan Business Cooperation Committee, a Member of the Advisory Committee of the Securities and Futures Commission of Hong Kong, a Member of the Small and Medium Enterprises Committee of the Government of the Hong Kong Special Administrative Region, a Member of the HKSAR Standing Committee on Judicial Salaries and Conditions of Service, a Member of the HKSAR Financial Reporting Review Panel and a Member of the HKSAR Traffic Accident Victims Assistance Advisory Committee. Mr. GUO joined the Group in 1993 and is also a director of certain subsidiaries of the Group. Mr. GUO has about 30 years management experience in construction business.