GoFintech Quantum Innovation Limited — Board/Management Information 2002

Jul 29, 2002

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(incorporated in Bermuda with limited liability)

ANNOUNCEMENT APPOINTMENT AND RESIGNATION OF DIRECTORS AND CHANGE OF CHAIRMAN

The board of directors (the “Board”) of Pacific Challenge Holdings Limited (the “Company”) is pleased to announce that Messrs. Cheong Tin Yau and Lam Kwan Sing have been appointed as Executive Directors and Ms. Lau Ching Yi, Judy and Mr. Chau Oi Ching, Samuel have been appointed as Independent Non-Executive Directors of the Company with effect from 29th July, 2002. On the same day, Mr. Cheong Tin Yau has also been appointed as the Chairman of the Company.

The Board of the Company also announces that Dr. Chiang Lily, Ms. Chan Yim Fong, Teli and Mr. Shah Tahir Hussain have resigned as Executive Directors and Messrs. Tzang Hing Chung, Alexander, Woo Ping Tao, Pedro and Mitsuishi Mitsuo have resigned as Independent Non-Executive Directors of the Company with effect from 29th July, 2002. On the same day, Dr. Chiang Lily has also resigned as Chairman of the Company. In addition, Mr. Hubert Chak, the alternate director to Dr. Chiang Lily, ceased to be an alternate director on 29th July,2002.

The Board would like to take this opportunity to express our deeply appreciation to Dr. Chiang Lily, Ms. Chan Yim Fong, Teli and Messrs. Shah Tahir Hussain, Tzang Hing Chung, Alexander, Woo Ping Tao, Pedro and Mitsuishi Mitsuo for their valuable contribution to the Company in respect of their past services to the Company.

By order of the Board Cheong Tin Yau Chairman

Hong Kong, 29th July, 2002

* For identification purpose only

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