CAI Corp — Board/Management Information 2008

Aug 21, 2008

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(Incorporated in Hong Kong with limited liability) Stock Code: 51

PASSING AWAY OF A DIRECTOR

The board of directors (the " Board " ) of Harbour Centre Development Limited (the " Company ") is deeply saddened by the passing away of Mr. M. K. Tan (" Mr. Tan " ) , an independent non-executive director of the Company, on 14 August 2008.

Mr. Tan was appointed to the Board and as a member of the audit committee of the Company in 2004, and had given invaluable contribution to the Company. The Board wishes to express its deepest condolences to Mr. Tan's family.

Following the passing away of Mr. Tan, the number of independent non-executive directors of the Company has fallen below the minimum number of three as required under Rule 3.10(1) of the Listing Rules, and the number of members of the audit committee of the Company has also fallen below the minimum number of three as required under Rule 3.21 of the Listing Rules. The Company will in due course take appropriate action to appoint a new independent non-executive director and also a new member of the audit committee of the Company for filling the vacancy occasioned by the passing away of Mr. Tan.

For HARBOUR CENTRE DEVELOPMENT LIMITED

Wilson W. S. Chan Company Secretary

As at the date of this announcement, the Board comprises Mr. G. W. J. Li, Mr. T. Y. Ng and Mr. C. K. H. Wong, together with two independent non-executive Directors, namely, Mr. H. M. V. de Lacy Staunton and Mr. M. T. P. Sze.

Hong Kong, 21 August 2008

Harbour Centre Development Limited - Announcement (21 August 2008)