Crypto Flow Technology Limited — Board/Management Information 2007

Sep 4, 2007

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 )

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

RESIGNATION OF INDEPENDENT NON-EXECUTIVE DIRECTOR AND MEMBER OF AUDIT COMMITTEE

The board of directors (“the Board”) of Wafer Systems Limited (the “Company”) is pleased to announce that Mr. SO Lie Mo, Raymond (“Mr. So”) , has been appointed as an independent nonexecutive director of the Company and a member of the audit and remuneration committees of the Board with effect from 5 September 2007.

Mr. SO, aged 58, is a director of Spectrum Asia Pacific Limited (“Spectrum”) a private limited company incorporated in the Cayman Islands which principally provides consulting services in business strategy, alliance and merger and acquisition.

Mr. So is an all round businessman with a wealth of experience and contacts in the information technology (“IT”) industry in Asia and particularly in greater China. He has a long and successful track record especially in the IT services industry. Before joining Spectrum in 2004, he served at Datacraft Asia Ltd. as the Regional Director of the greater China region after having spent years in senior executive positions in Wang Pacific Ltd., Electronic Data Systems (HK) Ltd. and Novell Hong Kong Ltd.

Mr. So holds a bachelor degree in business administration from The Chinese University of Hong Kong.

Mr. So has not held any directorship in public listed companies or other major appointments and qualifications during the past three years and he has not previously held any position with the Company or any of its subsidiaries. As at the date of this announcement, Mr. So does not have any relationship with any director, senior management, management shareholders, substantial shareholders, or controlling shareholders of the Company, and he does not have any interests in the shares of the Company within the meaning of Part XV of the Securities and Futures Ordinance (Chapter 571 of the Laws of Hong Kong).

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Pursuant to the appointment letter signed between Mr. So and the Company, Mr. So will receive a director’s fee of HK$120,000 per annum, which was determined having regard to his experience and his duties and responsibilities in the Company. Mr. So will serve the Company for a term of two years, commencing on 5 September 2007. However he will be subject to retirement at the forthcoming general meeting and by rotation and re-election at annual general meetings of the Company in accordance with the articles of association of the Company.

Save as disclosed above, there is no other information to be disclosed pursuant to any of the requirements of Rule 17.50(2)(h) to 17.50(2)(v) of the Rules (the “GEM Rules”) governing the listing of Securities of the Growth Enterprise Market (“GEM”) of the Stock Exchange of Hong Kong Limited (the “Stock Exchange”), or to be brought to the attention of shareholders of the Company.

The Board would like to take this opportunity to welcome Mr. So on the Board.

Resignation of Independent Non-Executive Director

The Board also wishes to announce the resignation of Mr. Chan Tze Ngon (“Mr. Chan”) from the Board and the audit committee, with effect from 5 September 2007.

Mr. Chan resigns from the Board in order to devote more time to his other business commitments.

Mr. Chan has confirmed that he has no disagreement with the Board and that there are no matters in relation to his resignation that he considers need to be brought to the attention of the shareholders of the Company.

Save as disclosed above, the Board wishes to confirm that there are no other matters in relation to Mr. Chan’s resignation that need to be brought to the attention of the Company’s shareholders.

The Board wishes to express its sincere gratitude to Mr. Chan for his valuable contribution to the Company during the tenure of his office.

By Order of the Board CHAN Sek Keung, Ringo Chairman

Hong Kong, 4 September 2007

As at the date of this announcement, the Board consists of one executive director, namely Mr. CHAN Sek Keung, Ringo, three independent non-executive directors, namely Mr. PANG Hing Chung, Alfred, Mr. David Tsoi and Mr. CHAN Tze Ngon.

This announcement, for which the directors 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, 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

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