GoFintech Quantum Innovation Limited — Board/Management Information 2004

May 4, 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 OF DIRECTORS AND CHAIRMAN

The Board of Directors (the “Board”) of New Times Group Holdings Limited (the “Company”) hereby announces that Mr. Cheong Tin Yau has resigned as both the Executive Director and Chairman of the Company for personal reason with effect from 4 May 2004.

On the same date, Ms. Zhou Wei has been appointed as both the Executive Director and Chairman of the Company.

Ms. Zhou, aged 37, has extensive experience in management and is not connected with any directors, senior management, substantial or controlling shareholders of the Company and does not have any interests in the shares of the Company within the meaning of Part XV of the Securities and Futures Ordinance.

The Board would like to take this opportunity to thank Mr. Cheong for his valuable contribution to the Company during his past service with the Company and extend its warmest welcome to Ms. Zhou.

The Board as of the date of this announcement comprises six 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, Messrs Lo Kwok Hung, John and Lau Man Tak as the independent non-executive Directors

By Order of the Board Lam Kwan Sing Executive Director

Hong Kong, 4 May 2004

• For identification purpose only

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