China Pipe Group Limited — Board/Management Information 2004

Sep 9, 2004

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永 恩 國 際 集 團 有 限 公 司 PRIME SUCCESS INTERNATIONAL GROUP LIMITED (Incorporated in the Cayman Islands with limited liability)

(Stock Code: 210)

APPOINTMENT OF INDEPENDENT NON-EXECUTIVE DIRECTOR

The board of Directors (the “Board”) of Prime Success International Group Limited (the “Company”) is pleased to announce that Mr. HSIAO Hsi-Ming (“Mr. HSIAO”) was appointed as an independent nonexecutive director and audit committee member of the Company with effect from 10 September, 2004.

Mr. HSIAO, aged 64, is a partner at Dinkum & Co., CPAs in Taiwan. He is also a member of Taiwan Provincial CPA Association in Taiwan and has over 40 years of experience in auditing and accounting.

There is no service contract between Mr. HSIAO and the Company. He is not appointed for a specific term. According to the Articles of Association of the Company, Mr. HSIAO shall hold office until the next annual general meeting of the Company and shall be eligible for re-election. Thereafter, he shall be subject to retirement by rotation and re-election at the subsequent annual general meetings of the Company. Mr. HSIAO will receive a director’s fee of HK$60,000 per annum and will not be entitled to receive any bonus payments, whether fixed or discretionary in nature.

Mr. HSIAO has not held any directorship in listed public companies in the last three years or any position with the Company or its subsidiaries and is not connected with any director, senior management or substantial or controlling shareholder of the Company. As of the date of this announcement, he does not have any interest in the shares of the Company within the meaning of Part XV of the Securities and Futures Ordinance. Save as disclosed above, the Company is not aware of any other matters related to the appointment that need to be brought to the shareholders of the Company.

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

As at the date of this announcement, the Directors of the Company are as follows: Executive Directors:

Mr. CHANG Wen I, Mr. CHEN Hsien Min and Mr. CHEN Ying-Chieh.

Independent Non-executive Directors:

Mr. KUO Jung-Cheng, Mr. HUANG Shun-Tsai and Mr. HSIAO Hsi-Ming.

By order of the Board Prime Success International Group Limited IP Ching Bun Ben Company Secretary

Hong Kong, 10 September, 2004

“Please also refer to the published version of this announcement in The Standard.”