Crypto Flow Technology Limited — Board/Management Information 2007

Apr 30, 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 FILLING VACANCY IN AUDIT COMMITTEE

This announcement has been made by the Company pursuant to Rule 17.50 of the Growth Enterprise Market of the Stock Exchange of Hong Kong and with reference to the announcement made by the Company on 30 January 2007.

The board is pleased to announce the appointment of Mr. Chan Tze Ngon as an independent non-executive director of the Company and a member of the audit committee of the Board with effect from 1 May 2007.

This appointment will bring the Company in compliance with Rule 5.05(1) and Rule 5.28 of the Growth Enterprise Market of the Stock Exchange of Hong Kong.

This announcement has been made by the Company pursuant to Rule 17.50 of the Growth Enterprise Market of the Stock Exchange of Hong Kong and with reference to the announcement of the Company made on 30 January 2007.

The board (the “Board”) of directors (“Director(s)”) of Wafer Systems Limited (the “Company”) is pleased to announce that Mr. CHAN Tze Ngon (陳子昂) (“Mr. Chan”) has been appointed as an independent non-executive director of the Company and a member of the audit committee of the Board with effect from 1 May 2007.

This appointment will bring the Company in compliance with Rule 5.05(1) and Rule 5.28 of the Growth Enterprise Market of the Stock Exchange of Hong Kong.

Mr. Chan, aged 51, is an executive director of Venture International Investment Holdings Limited (“VIIH”), which is listed on the Main Board of the Hong Kong Stock Exchange. Mr. Chan founded VIIH in 1993 was its chairman up to February 2007. Thereafter he resigned from the position but has remained an executive director of VIIH. VIIH is a diversified group in information technology, real estate consulting service and consulting service in planting agricultural products.

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Mr. Chan is also the executive director, Chairman and CEO of ChinaCast Education Corporation, a provider of solutions primarily based on broadband satellite service. ChinaCast Education Corporation is listed on the Nasdaq OTC.

Mr. Chan holds master’s degrees in mathematics and computer science from Concordia University of Canada.

Mr. Chan has not previously held any position with the Company or any of its subsidiaries. As at the date of this announcement, Mr. Chan does not have any relationship with any directors, senior management, management shareholders, substantial shareholders, or controlling shareholders of the Company. Mr. Chan 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).

Pursuant to the appointment letter signed between Mr. Chan and the Company, Mr. Chan 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. Chan will serve the Company for a term of two years, commencing on 1 May 2007, however he 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.

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 GEM, or to be brought to the attention of shareholders of the Company.

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

By order of the Board CHAN Sek Keung, Ringo Chairman

Hong Kong, 30 April 2007

As at the date of this announcement, the Board consists of one executive Director, namely Mr. CHAN Sek Keung, Ringo, one non-executive Directors, Mr. KWAN Kit Tong and two independent non-executive Directors, namely Mr. PANG Hing Chung, Alfred and Mr. David TSOI.

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

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