CAI Corp — Board/Management Information 2008

Feb 1, 2008

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HARBOUR CENTRE DEVELOPMENT LIMITED

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

APPOINTMENT OF DIRECTOR

Harbour Centre Development Limited (the "Company" ; together with its subsidiaries, the " Group" ) announces that the board of directors of the Company (the "Board" ) has approved the appointment of Mr. Clement Kam Hung Wong ( "Mr. Wong" ) as a Director of the Company, effective from 1 February 2008.

Mr. Wong, aged 52, joined Wheelock and Company Limited ( "Wheelock" ) group in 1982. Wheelock, a publicly-listed company, is the ultimate holding company of the Company. He has been in continuous employment of the Wheelock group and of The Wharf (Holdings) Limited ( "Wharf" ) (which is the parent company of the Company and a 50.02%-owned listed subsidiary of Wheelock) group since 1982, and has been involved in various property-related responsibilities of the Wheelock group and Wharf group. He is currently an executive director of Wharf Estates Development Limited and Wharf Estates China Limited, both being wholly-owned subsidiaries of Wharf, and is presently responsible for overseeing the planning, development and construction in respect of all property projects of the Wheelock group and Wharf group, including those of the Group, in both China and Hong Kong. Mr. Wong graduated from The University of Hong Kong with a Degree of Bachelor of Science in Engineering. He is also a member of The Hong Kong Institution of Engineers as well as The Chartered Institution of Building Services Engineers, UK and also a chartered engineer of the Engineering Council UK.

Save as disclosed above, Mr. Wong does not have any relationship with any other Directors, senior management or any substantial or controlling shareholders of the Company. He does not at present, nor did he in the past three years, hold any directorship in any listed public company. Mr. Wong does not have any interest (within the meaning of Part XV of the Securities and Futures Ordinance) in any securities of the Company. He will receive from the Company a director's fee at the rate of HK$30,000 per annum. This rate of director's fee is in line with that payable by the Company to other Directors, including independent non-executive Directors, of the Company. There exists no service contract between Mr. Wong and the Group and therefore no emolument will be payable to Mr. Wong by the Group apart from the abovementioned director’s fee. In relation to the appointment of Mr. Wong as a Director of the Company, there is no information which is discloseable nor is/was he involved in any of the matters required to be disclosed pursuant to any of the requirements of the provisions under paragraphs 13.51(2)(h) to 13.51(2)(v) of the Listing Rules, and there is no other matter which needs to be brought to the attention of the shareholders of the Company. In accordance with the provisions of the Company's articles of association, Mr. Wong will hold office until he retires from the Board at the forthcoming annual general meeting of the Company to be held in May 2008.

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Harbour Centre Development Limited - Announcement (1 February 2008)

After the abovementioned board change, the Board comprises Mr. Gonzaga W. J. Li, Mr. T. Y. Ng and Mr. Clement K. H. Wong, together with three independent non-executive Directors, namely, Mr. H. M. V. de Lacy Staunton, Mr. Michael T. P. Sze and Mr. M. K. Tan.

For HARBOUR CENTRE DEVELOPMENT LIMITED Wilson W. S. Chan Company Secretary

Hong Kong, 1 February 2008

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Harbour Centre Development Limited - Announcement (1 February 2008)