G-Resources Group Limited — Board/Management Information 2004

Oct 4, 2004

PALADIN LIMITED

(Incorporated in Bermuda with limited liability) (Stock code: 495)

APPOINTMENT OF INDEPENDENT NON-EXECUTIVE DIRECTOR

The board of directors (the “Board”) of Paladin Limited (the “Company”) is pleased to announce that Mr. Kwok Wai Chi (“Mr. Kwok”) was appointed as an independent nonexecutive director and also as a member of the audit committee of the Company with effect from 30 September 2004.

Mr. Kwok, aged 27, holds a Bachelor Degree in Business Administration from the Hong Kong University of Science and Technology and is an associate member of the Hong Kong Institute of Certified Public Accountants and the Association of Chartered Certified Accountants. He is currently a principal of a wealth management and financial planning company. Mr. Kwok did not hold any other directorships in listed public companies in the last three years.

Mr. Kwok has not previously held any positions with the Company or any of its subsidiaries. He does not have any relationships with any directors, senior management or substantial or controlling shareholdings of the Company. As at the date hereof, Mr. Kwok does not have any interests in shares of the Company within the meaning of Part XV of the Securities and Futures Ordinance (Chapter 571 of the Laws of Hong Kong).

There is no service contract between the Company and Mr. Kwok. Mr. Kwok does not have a fixed term of service and shall hold office until the next following annual general meeting of the Company and shall then be eligible for re-election at that meeting. His emoluments will be determined by the Board with reference to the prevailing market conditions.

As at the date of this announcement, the executive directors of the Company are Mr. LAW Fong and Mr. CHEN Te Kuang Mike, the non-executive director is Mr. OUNG Shih Hua James and the independent non-executive directors are Mr. ZHU Pei Qing and Ms. LU Ti Fen.

By order of the Board Paladin Limited Law Fong Acting Chairman

Hong Kong, 4 October 2004

Please also refer to the published version of this announcement in China Daily.