Comtec Solar Systems Group Limited — Board/Management Information 2004

Sep 10, 2004

Sun East Technology (Holdings) Limited

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SUN EAST TECHNOLOGY (HOLDINGS) LIMITED （日東科技（控股）有限公司）[*]

(Incorporated in Bermuda with limited liability)

(Stock code: 365)

APPOINTMENT OF AN INDEPENDENT NON-EXECUTIVE DIRECTOR AND AN AUDIT COMMITTEE MEMBER

RE-ELECTION OF AN EXECUTIVE DIRECTOR APPOINTMENT OF A COMPANY SECRETARY

The board of directors (the “ Board ”) of Sun East Technology (Holdings) Limited (the “ Company ”) is pleased to announce that, with effect from 10 September 2004:–

• (a) Mr. See Tak Wah (“ Mr. See ”) has been appointed as an independent non-executive director and an audit committee member of the Company;

• (b) Mr. But Tin Hing (“ Mr. But ”) has been re-elected as an executive director of the Company; and

• (c) Mr. Tung Tat Chiu, Michael (“ Mr. Tung ”) has been appointed as a company secretary of the Company.

The Board of the Company is pleased to announce that, with effect from 10 September 2004:-

• (a) Mr. See has been appointed as an independent non-executive director and an audit committee member of the Company;

• (b) Mr. But has been re-elected as an executive director of the Company; and

• (c) Mr. Tung has been appointed as a company secretary of the Company.

• (a)

Mr. See

Mr. See, aged 41, graduated from the Management School of Waikato University of New Zealand with a first class honour in Bachelor of Management Studies and is a member of the Institute of Chartered Accountants of New Zealand and an associate member of the Hong Kong Society of Accountants. Mr. See has over 15 years’ experience in financial and general management where he previously worked as the regional business controller of Nokia Mobile Phones Asia Pacific, the managing director of Nokia Mobile Phones Hong Kong, the chief operating officer of First Mobile Group Holdings Limited and held key management position in the North Asia office of Philips and Siemens. Mr. See is currently running his own strategic consultancy business.

Other than the directorship held in the Company, Mr. Sze does not hold any positions in the Company and its subsidiaries of the Company (collectively, the “ Group ”). At present and in the past three years, Mr. See does/did not hold any directorship in any listed companies in Hong Kong, other than the Company. Save and except for his relationship with the Company, Mr. See does not have any relationship with any other directors of the Company, senior management personnel, substantial shareholders or controlling shareholders of the Company. Mr. See has no interest in the shares of the Company within the meaning of Part XV of the Securities and Futures Ordinance. There is no service contract entered into between Mr. See and the Company. Mr. See has no fixed term of service with the Company but will be subject to retirement by rotation and re-election at the annual general meeting of the Company in accordance with the Bye-laws of the Company (the “ Bye-laws ”) which require, inter alia, that at each annual general meeting of the Company, one-third of the directors of the Company (other than the chairman of the Board) for the time being shall retire from office by rotation. His director’s emoluments, which are determined on the basis of the market rate and his anticipated time, effort and expertise to be exercised on the Group’s affairs, are HK$120,000 per annum. There are no other matters that need to be brought to the attention of the shareholders of the Company in respect of the appointment of Mr. See.

Sun East Technology (Holdings) Limited 13-9-2004 1

Sun East Technology (Holdings) Limited

(b) Mr. But

Mr. But, aged 48, is an executive director of the Company. He established the Group in 1984 and is responsible for the Group’s product development. Mr. But has over 20 years of experience in the electronics industry. At present and in the past three years, Mr. But does/did not hold any directorship in any listed companies in Hong Kong, other than the Company. He is a brother of Mr. But Tin Fu, the chairman of the Board. Mr. But, Mr. But Tin Fu, Mr. Leung Cheong and Mr. Leung Kuen, Ivan are beneficial owners holding in aggregate the entire issued share capital of Mind Seekers Investment Limited, a controlling shareholder (as defined under the Rules Governing the Listing of Securities on The Stock Exchange of Hong Kong Limited) of the Company. Save as disclosed, Mr. But does not have any relationship with any directors, senior management personnel, substantial or controlling shareholders of the Company.

With regard to the effective service contract (the “ Service Contract ”) between Mr. But and the Company, he does not have fixed term of service with the Company but is or will be subject to retirement by rotation and re-election at the annual general meeting of the Company in accordance with the provisions of Bye-laws which require, inter alia , that at each annual general meeting of the Company, one-third of the directors of the Company (other than the chairman of the Board) for the time being shall retire from office by rotation. The director’s emoluments, which are determined on his experience and expertise, are at the rate of HK$80,000 per month payable in arrears at the end of each calendar month. In accordance with the Service Contract, after each year of his service, the emoluments shall be increased by no more than 15% at the discretion of the Board. A discretionary bonus may be decided by the Board for each year of his service, provided that the total amount of bonus payable to him for such year shall not exceed 10% of the audited consolidated profit after taxation but before extraordinary items of the Group (if any) for the relevant year (the “ Profit ”) and provided further that the Profit for such year exceeds HK$80,000,000. He beneficially owns 157,575,600 shares of the Company. Save as disclosed, Mr. But is not interested in shares in the Company within the meaning of Part XV of the Securities and Futures Ordinance.

Other than being an executive director of the Company, he is also a director of certain subsidiaries of the Company, namely i-System Investment Company Limited, Sun East Electronic Equipment Co., Ltd., Sun East Tech Development Ltd., Frontier Precision System Co., Ltd., Surfacetech Surface Treatment System Engineering Co., Ltd., Fureach Precision Limited, Fulvan Manufacturing Limited, Dystia Investments Inc., Rightrade Corporation, Pipersville Company Limited, Sherarson Intervest Company Limited, Eastern Century Speed Inc., 日東電子發展 （深圳）有限公司 (Sun East Electronic Development (Shenzhen) Co. Ltd.), 日東電子科技（深圳）有限公 司，西菲士表面處理工程（深圳）有限公司，天力精密系統（深圳）有限公司，日東自動化設備（上海） 有限公司 and 諾言貿易（上海）有限公司. He is also an authorized representative of 日東電子發展（深圳） 有限公司 and西菲士表面處理工程（深圳）有限公司 and an associate director of Sun East Sanki Co., Ltd. There are no other matters concerning Mr. But that need to be brought to the attention of the shareholders of the Company.

For and on behalf of the Board Sun East Technology (Holdings) Limited But Tin Fu Chairman

Hong Kong, 10 September 2004

As at the date of the announcement, the board of directors of the Company comprises of Mr. But Tin Fu, Mr. But Tin Hing, Mr. Leung Cheong, Mr. Leung Kuen, Ivan, Mr. Au Son Yiu, Mr. Goh Gen Cheung and Mr. See Tak Wah.

( * For identification purpose only)

Please also refer to the published version of this announcement in The Standard dated 13 September 2004.

Sun East Technology (Holdings) Limited 13-9-2004 2