Central Development Holdings Limited — Board/Management Information 2011

Jan 3, 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 liability whatsoever for any loss howsoever arising from or in reliance upon the whole or any part of the contents of this announcement.

APPOINTMENT OF EXECUTIVE DIRECTOR

The board of directors (the “Board”) of Noble Jewelry Holdings Limited (the “Company”) is pleased to announce that Mr. Setiawan Tan Budi (“Mr. Setiawan”) has been appointed as executive director of the Company with effect from 1 January 2011.

Mr. Setiawan, aged 32, is the director of procurement of Noble Jewelry Limited (“Noble Jewelry”), a wholly-owned subsidiary of the Company. He joined Noble Jewelry in 2006 and is currently responsible for the overall procurement of raw material. Mr. Setiawan obtained a master’s degree in information technology from Charles Sturt University in 2004. Mr. Setiawan has over 4 years’ experience in procurement of raw material for jewelry production.

As at the date of this announcement, Mr. Setiawan does not have any interest in the shares of the Company within the meaning of Part XV of the Securities and Futures Ordinance (Chapter 571 of the Laws of Hong Kong). Mr. Setiawan does not hold any directorship in other publicly listed companies in the last three years. Mr. Setiawan is the nephew of both Mr. Chan Yuen Hing, the Chairman and an executive director of the Company and Ms. Chan Lai Yung, an executive director of the Company, save as disclosed herein, Mr. Setiawan has no relationship with any other directors, senior management, substantial or controlling shareholders of the Company.

The Company has entered into a service agreement with Mr. Setiawan for an initial term of three years, which shall be continued thereafter until and unless terminated by either party to the service agreement by giving not less than three months’ notice in advance. His appointment will be subject to retirement by rotation and re-election in accordance with the articles of association of the Company. Mr. Setiawan will receive an annual emolument of HK$600,000 and be entitled to a discretionary bonus at the sole determination of the Board. The annual emolument for Mr. Setiawan was determined by the Board with reference to his experience, responsibilities and duties as well as the prevailing market conditions.

Save as disclosed above, there is no other information in relation to the appointment of Mr. Setiawan that is required to be disclosed under Rule 13.51(2) of the Rules Governing the Listing of Securities on the Stock Exchange of Hong Kong Limited (the “Listing Rules”), and Mr. Setiawan is not involved in any matters that are required to be disclosed under Rule 13.51(2)(h) to (v) of the Listing Rules, nor any other matters that need to be brought to the attention of the shareholders of the Company.

The Board would like to take this opportunity to welcome Mr. Setiawan to join the Board.

By order of the Board

NOBLE JEWELRY HOLDINGS LIMITED

Chan Yuen Hing Chairman

Hong Kong, 3 January 2011

As at the date of this announcement, the executive Directors are Mr. Chan Yuen Hing, Mr. Tang Chee Kwong, Ms. Chan Lai Yung, Mr. Chan Wing Nang, Mr. Lai Wang, Mr. Setiawan Tan Budi and Mr. Tsang Wing Ki, the independent non-executive Directors are Mr. Chan Cheong Tat, Mr. Tang Chiu Ming Frank and Mr. Yu Ming Yang.