Central Development Holdings Limited — Board/Management Information 2011

May 13, 2011

Hong Kong Exchanges and Clearing Limited and The Stock Exchange of Hong Kong Limited take no responsibility for the contents of this announcement, make no representation as to its accuracy or completeness and expressly disclaim any liabilities whatsoever for any loss howsoever arising from or in reliance upon the whole or any part of the contents of this announcement.

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China Timber Resources Group Limited （ 中國木業資源集團有限公司 ***** ）

(incorporated in the Cayman Islands with limited liability) (Stock Code: 269)

CHANGE OF HEAD OFFICE AND PRINCIPAL PLACE OF BUSINESS IN HONG KONG

The board of directors (the “ Board ”) of China Timber Resources Group Limited (the “ Company ”) hereby announces that the head office and principal place of business of the Company in Hong Kong has been changed to “Room 1801-07, China Resources Building, 26 Harbour Road, Wanchai, Hong Kong” with effect from 16 May 2011.

By Order of the Board China Timber Resources Group Limited Cao Zhong Chairman

Hong Kong, 13 May 2011

As at the date of this announcement, the Board comprises three executive Directors, namely Mr. Cao Zhong, Mr. Fung Tsun Pong and Mr. Tsang Kam Ching, David; a non-executive Director namely Mr. Neil Bush; and three independent non-executive Directors, namely Mr. Yip Tak On, Mr. Jing Baoli and Mr. Bao Liang Ming.

* For identification purpose only