Crypto Flow Technology Limited — Board/Management Information 2006

Jun 28, 2006

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.

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WAFER SYSTEMS LIMITED 威 發 系 統 有 限 公 司*

(Incorporated in the Cayman Islands with limited liability)

(Stock Code: 8198)

CHANGE OF QUALIFIED ACCOUNTANT

The Board announces the resignation of Mr. Yau Kin Wa and the appointment of Mr. Lau Kwok Wing as qualified accountant of the Company, with effect from 29 June, 2006.

The board of directors (the “Board”) of Wafer Systems Limited (the “Company”) announces that due to personal reasons, Mr. Yau Kin Wa (”Mr. Yau”) has resigned as Finance Manager and qualified accountant of the Company with effect from 29 June, 2006. Mr. Yau has confirmed, and the Board as well to its best knowledge and belief, that there is no disagreement between Mr. Yau and the Company and there is no matter in relation to Mr. Yau’s resignation that needs to be brought to the attention of the shareholders of the Company.

The Board further announces that Mr. Lau Kwok Wing (“Mr. Lau”) has been appointed Finance Manager and qualified accountant of the Company with effect from 29 June, 2006 in place of Mr. Yau. Mr. Lau joined the Group in July 1999 and is now the Assistant Finance Manager. He holds the Postgraduate Diploma in Corporate Finance from The Hong Kong Polytechnic University and is a member of both The Association of Chartered Certified Accountants and Hong Kong Institute of Certified Public Accountants.

The Board wishes to take this opportunity to thank Mr. Yau for his valuable contributions towards the Company during his tenure of office and wish him the best for the future.

By Order of the Board Wafer Systems Limited Chan Sek Keung, Ringo Chairman

Hong Kong, 28 June, 2006

As at the date of this announcement, the Board consists of one executive Director, namely Mr. CHAN Sek Keung, Ringo, three non-executive Directors, namely Mr. Alasdair Gordon NAGLE, Ms. Clara HO and Mr. KWAN Kit Tong and three independent non-executive Directors, namely Mr. PANG Hing Chung, Alfred, Mr. TSOI Tai Wai, David and Mr. YU Zhonghou.

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 of Hong Kong Limited 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 this 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 from the date of its publication.

* For identification purpose only