The board of directors of Shimao Property Holdings Ltd. announced that Ms. Yao Li has been re-designated from an executive director of the company to a non-executive director of the company with effect from 18 June 2012. Ms. Yao, has been an executive director of the company since 25 January 2006. She was the Group Operations Controller from 2006 to 2010 and responsible for loan finance, management of enterprise operation, human resources, training and administrative support of the Group. Ms. Yao is currently a director and the President of Straits Construction Investment (Holdings) Limited.