Central Development Holdings Limited — Board/Management Information 2001

Mar 5, 2001

Seapower Resources

International Limited

(Incorporated in the Cayman Islands with limited liability)

The Board of Directors of Seapower Resources International Limited (the “Company”) announce that Mr. Michael Ho has resigned as Executive Director and Vice-Chairman of the Company with effect from 1st March, 2001. The Board of Directors would like to thank Mr. Ho for his invaluable contribution and dedication to the Company during his term of office.

By order of the Board

Shirley Choi Siu Lui

Director

Date: 2nd March, 2001

Please also refer to the published version of this announcement in the i Mail dated 3/3/2001.