The board of directors of New World Department Store China Ltd. announced that Ngan Man-ying, Lynda, an executive Director, will be re-designated as a non-executive Director with effect from 10 December 2012. Ngan, aged 47, has been a Director since January 2007 and designated as an executive Director since June 2007. Ms. Ngan is a director of certain subsidiaries of the company.

She joined the Group in 2007 and is responsible for the financial planning and corporate governance of the Group. Ngan is also an executive director, the financial controller and the company secretary of New World China Land Limited, a company listed on the main board of The Stock Exchange of Hong Kong Limited. Ngan has previously worked for an international accounting firm in Hong Kong and a tax consulting company in Australia.