Computer And Technologies Holdings Limited — Board/Management Information 2004

Dec 29, 2004

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CHINA AEROSPACE INTERNATIONAL HOLDINGS LIMITED

(Incorporated in Hong Kong with limited liability)

(Stock Code: 31)

RE-DESIGNATION & APPOINTMENT OF INDEPENDENT NON-EXECUTIVE DIRECTORS

The Board of Directors of China Aerospace International Holdings Limited (the “Company”) is pleased to announce that, in order to comply with the new provisions of the Rules Governing the Listing of Securities on The Stock Exchange of Hong Kong Limited, Ms. Chan Ching Har, Eliza, an independent non-executive director of the Company, has been re-designated as a non-executive director of the Company and has resigned as a member of the Company’s Audit Committee with effect from 29 December 2004, as Ms. Chan is a senior partner of a firm of legal advisers, Messrs. Jewkes Chan & Partners, which currently provides legal advisory services to the Company and its subsidiaries, and with effect from 29 December 2004, Mr. Luo Zhenbang has been appointed as an independent non-executive director and a member of the Company’s Audit Committee.

Ms. Chan Ching Har, Eliza, aged 48, has served as a director of the Company since January 1997. Ms. Chan is a member of the First Selection Committee for HKSAR, member of the Public Service Commission, board member of the Hong Kong Hospital Authority, the Chairperson of the Kowloon Hospital and the Hong Kong Eye Hospital, and an adjudicator of the Hong Kong Immigration Tribunal. She is also the Legal Advisor to The Hong Kong Chinese Enterprises Association, the Foreign Economic Affairs Legal Advisor to the Tianjin Municipal People’s Government and an independent non-executive director of China National Aviation Company Limited, the shares of which are listed on The Stock Exchange of Hong Kong Limited.

Mr. Luo Zhenbang, aged 38, is a Partner of Beijing Tin Wha Certified Public Accountants. Mr. Luo graduated from the School of Business of Lanzhou in 1991 majoring in Enterprise Management. He was an expert supervisor of Xinda Asset Management Corporation and has been managing the audit for several listed companies since 1994. He is an expert supervisor of China Great Wall Asset Management Corporation, an independent director of Long March Vehicle Technology Company Limited, Ningxia Orient Tantalum Industry Company Limited, St. Edenweiss Company Limited and Wuzhong Instrument Company Limited, the shares of those companies are listed in the People’s Republic of China, as well as an internal audit expert of Northeast Securities Company Limited. Mr. Luo possesses several professional qualifications, such as Chinese certified public accountant, certified accountant in securities and futures industry, Chinese certified assets valuer and Chinese certified tax accountant and has in-depth experience in accounting, auditing and financial management. He is familiar with the audit of listed companies from various sectors and extensively participates in the preliminary work in corporate restructuring and strategic planning for initial public offer, assets and debts restructuring, and other business consultation services.

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There is no service contract entered into between either Ms. Chan and Mr. Luo on the one part and the Company on the other part. Both Ms. Chan and Mr. Luo will have no fixed term of service with the Company but will be subject to retirement by rotation and re-election at annual general meetings of the Company in accordance with the Articles of Association of the Company. The director’s emolument of both Ms. Chan and Mr. Luo, which had been approved at the 2004 annual general meeting of the Company, is HK$100,000 per director per annum. Save as disclosed above, neither Ms. Chan nor Mr. Luo has previously held any positions with the Company or its subsidiaries and is not connected with any director, senior management or substantial or controlling shareholders of the Company. Both Ms. Chan and Mr. Luo have no interests in the shares of the Company within the meaning of Part XV of the Securities and Futures Ordinance.

The Board has confirmed that there is no other matter regarding the above re-designation and appointment that needs to be brought to the attention of the shareholders of the Company.

The Board would like to extend a warm welcome to Mr. Luo in joining the Company.

By order of the Board Rui Xiaowu Chairman

Hong Kong, 29 December 2004

As of the date of this announcement, the Board of Directors of the Company comprises:

Executive Directors Non Executive Directors Independent Non Executive Directors Mr. Rui Xiaowu Mr. Li Jinsheng Mr. Lee Hung Sang Mr. Zhao Liqiang Mr. Xu Shilong Mr. Chow Chan Lum, Charles Mr. Zhou Qingquan Mr. Chen Dingyi Mr. Luo Zhenbang Mr. Zhao Yuanchang Ms. Chan Ching Har, Eliza Mr. Wu Hongju Mr. Guo Xianpeng

“Please also refer to the published version of this announcement in China Daily”

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