Shanghai Turbo Enterprises Ltd. announced cessation of Executive Director, Liu Ming. Role and responsibilities: Executive Director. To oversee the operations of the business, both locally and overseas, to ensure significant improvement in business performance.

Reason For Cessation: Mr. Liu Ming has voluntarily requested to resign as a director of Shanghai Turbo Enterprises Ltd, after much careful consideration. The main reason for his resignation is the hefty extra costs to the Company, in order to engage an independent reviewer as required by SGX RegCo. This is undoubtedly a large expense to the Company, even though the Company's business has begun to improve recently.

However, during this challenging difficult production period the Company is still facing great cash flow pressure, Mr. Liu hopes his resignation can help to relieve the financial pressure on the Company.