GoFintech Quantum Innovation Limited — Board/Management Information 2004

Sep 7, 2004

NEW TIMES GROUP HOLDINGS LIMITED (Stock Code: 166) （新時代集團控股有限公司） *

(incorporated in Bermuda with limited liability)

CHANGE IN DIRECTORSHIP

The board of directors (the “Board”) of New Times Group Holdings Limited (the “Company”) hereby announced that Mr. Lo Kwok Hung, John (“Mr. Lo”) retired at the annual general meeting of the Company held on 6 September 2004 in accordance with the Bye-laws of the Company and, as notified by Mr. Lo, he did not seek for re-appointment as director of the Company due to personal reasons. Mr. Lo confirmed that he had no disagreement with the Board and he was not aware of any matters which need to be drawn to the attention of the shareholders of the Company. The Board would like to express its appreciation for the contribution of Mr. Lo during his tenure of office.

The Board is also pleased to announce that Mr. Qi Jin Feng (“Mr. Qi”) and Ms. Kwai Laan (“Ms. Kwai”) have been appointed as Independent Non-executive directors of the Company with effect from 7 September 2004.

Mr. Qi, aged 49, has extensive experience in the legal and commercial field. Ms. Kwai, aged 44, holds a Bachelor degree in Language and was a lecturer. She also has extensive experience in the securities industry. Both Mr. Qi and Ms. Kwai have not previously held any position with the Company or any of its subsidiaries. Both of them are independent persons and do not have any relationship with any director, senior management, substantial shareholders or controlling shareholders of the Company and they do not have any interest in shares of the Company within the meaning of Part XV of the Securities and Futures Ordinance.

Both Mr. Qi and Ms. Kwai did not held any other directorships in listed public companies in the last three years. In addition, as at the date of this announcement, there is neither any service contract between the Company and Mr. Qi or Ms. Kwai nor any proposed length of service with the Company in respect of the aforesaid appointment. There is also no agreement whether in writing or verbally between the Company and Mr. Qi or Ms. Kwai in respect of prior notice given by either party for termination. Pursuant to the Bye-laws of the Company, both Mr. Qi and Ms. Kwai will hold office until next annual general meeting and will be eligible for re-election at the meeting.

They will, at the discretion of the Board, entitled to director’s fee or/and annual bonus or/and stock option of such amount as determined by the Board from time to time with reference to their scope of duties and performance. There is no agreement whether in writing or verbally between the Company and Mr. Qi or Ms. Kwai on the amount of directors’ fee.

The Board takes this opportunity to welcome Mr. Qi and Ms. Kwai to join the Board.

The Board as of the date of this announcement comprises seven Directors, including Ms. Zhou Wei as the Chairman, Mr. Liu Ji Cheng as the Deputy Chairman, Mr. Lam Kwan Sing as the Executive Director, Ms. Huang Ning as the Non-executive Director, Ms. Kwai Laan , Mr. Lau Man Tak and Mr. Qi Jin Feng as the Independent non-executive Directors

By Order of the Board Zhou Wei Chairman Hong Kong, 7 September 2004

* For identification purpose only

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