Crypto Flow Technology Limited — Board/Management Information 2002

Oct 30, 2002

The Stock Exchange of Hong Kong Limited takes no responsibility for the contents of this announcement, makes no representation as to its accuracy or completeness and expressly disclaims any liability whatsoever for any loss howsoever arising from or in reliance upon the whole or any part of the contents of this announcement.

WAFER SYSTEMS LIMITED

威 發 系 統 有 限 公 司*

(Incorporated in the Cayman Islands with limited liability)

CHANGE OF QUALIFIED ACCOUNTANT

The board of directors (the “Board”) of Wafer Systems Limited (the “Company”) is pleased to announce the transfer of Mr. Wong Lee Ping, Corey to the position of Vice President (M & A) of the Company with effect from 1 November, 2002. He will vacate the position of qualified accountant with effect from the same date.

The change in Mr. Wong’s responsibilities is to allow him to focus on the pursuit of merger and acquisition opportunities for the Company in the future.

The Board is also pleased to announce that Mr. Yau Kin Wa, Finance Manager of the Company, will assume the role of qualified accountant of the Company with effect from 1 November, 2002.

Mr. Yau holds a Bachelor of Business Administration degree from the Baptist University of Hong Kong, and joined the Company in 1999. Mr. Yau is a Fellow member of The Association of Chartered Certified Accountants and an Associate member of The Hong Kong Society of Accountants.

By order of the Board

Wafer Systems Limited

Chan Sek Keung, Ringo

Chairman

Hong Kong, 30 October, 2002

This announcement, for which the directors of the Company collectively and individually accept full responsibility, includes particulars given in compliance with the Rules governing the Listing of Securities on the Growth Enterprise Market of the Stock Exchange for the purpose of giving information with regard to the Company. The directors of the Company, having made all reasonable enquiries, confirm that, to the best of their knowledge and belief : (1) the information contained in this announcement is accurate and complete in all material respects and not misleading; (2) there are no other matters the omission of which would make any statement in their announcement misleading; and (3) all opinions expressed in this announcement have been arrived at after due and careful consideration and are founded on bases and assumptions that are fair and reasonable.

This announcement will remain on the “Latest Company Announcements” page of the GEM Website at www.hkgem.com for at least 7 days form the date of its publication.

* For identification purpose only