Guoco Group Limited — Board/Management Information 2004

Sep 30, 2004

FAR EAST HOTELS AND ENTERTAINMENT LIMITED

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FAR EAST HOTELS AND ENTERTAINMENT LIMITED 遠東酒店實業有限公司

(Incorporated in Hong Kong with limited liability)

(Stock Code: 0037)

CHANGES IN DIRECTORSHIPS

The Board of Directors (the ‘’Board’’) of Far East Hotels And Entertainment Limited (the ‘’Company’’) announces the changes in directorships of the Company with effect from 28 September 2004 as follows:

1. Due to personal reasons, Mr. Ma Ho Fai resigned as independent non-executive director;

2. Due to personal reasons, Mr. Daniel Chiu Tat-jung resigned as Vice-chairman and non-executive director;

3. Mr. Ng Wing Hang Patrick and Mr. Choy Wai Shek Raymond were appointed as independent non-executive directors and members of the audit committee.

The Board confirms that the resignation of Mr. Ma Ho Fai and Mr. Daniel Chiu Tat-jung is not due to any disagreement with the Board and the Board is not aware of any matter that needs to be brought to the attention of the shareholders of the Company. Taking this opportunity, the Board would like to express its gratitude to them for their valuable contribution to the Company in the past.

Mr. Ng Wing Hang Patrick

Mr. Ng Wing Hang Patrick, aged 51, is a practising Certified Public Accountant in Hong Kong and is the sole proprietor of Messrs. Patrick Ng & Company, Certified Public Accountants. Mr. Ng also serves as independent nonexecutive director on the boards of three listed companies in Hong Kong, namely, Shenyin Wanguo (H.K.) Limited, Hong Kong Pharmaceutical Holdings Limited and Everbest Century Holdings Limited.

Mr. Choy Wai Shek Raymond, MH, JP

Mr. Choy Wai Shek Raymond, aged 55, was the Chairman of Sham Shui Po District Council, Hong Kong for the year 1991 to 1994, a member of Hong Kong Affairs Adviser for the year 1994 to1997, a member of Hong Kong Broadcasting Authority for the year 1995 to 1998. Mr. Choy is now a member of Occupational Safety And Health Council, a member of CPPCC Guangzhou Committee, a director of Chinese General Chamber Of Commerce. He does not hold any directorship on the boards of any listed companies in Hong Kong during the last three years.

There are no service contract between the Company and Mr. Ng Wing Hang Patrick and Mr. Choy Wai Shek Raymond. Mr. Ng and Mr. Choy have no fixed term of service with the Company but will subject to the rotational retirement and re-election requirements at annual general meeting pursuant to the articles of association of the

FAR EAST HOTELS AND ENTERTAINMENT LIMITED 30-9-2004 1

FAR EAST HOTELS AND ENTERTAINMENT LIMITED

Company. Each of them will be entitled to receive a director’s fee of HK$120,000 per annum. Save as disclosed above, Mr. Ng Wing Hang Patrick and Mr. Choy Wai Shek Raymond do not have any relationship with any directors, senior management or substantial or controlling shareholders of the Company, and, as at the date hereof, they do not have any interests in the shares of the Company within the meaning of Part XV of the Securities and Futures Ordinance.

The Board welcomes the joining of Mr. Ng Wing Hang Patrick and Mr. Choy Wai Shek Raymond, and deeply believes that their experience will be beneficial to the Company’s business development.

On behalf of the Board

Derek Chiu

Managing Director & Chief Executive

Hong Kong, 28 September 2004

As at the date of this announcement, the directors of the Company comprises executive directors namely Mr. Deacon Te-ken Chiu, Mr. Derek Chiu, Mr. Desmond Chiu, Ms. Margaret Chiu; non-executive directors namely Mrs. Chiu Ju Ching-lan, Mr. Dick Tat-sang Chiu, Mr. David Tat-cheong Chiu, Mr. Dennis Tat-shing Chiu, Mr. Duncan Chiu; independent non-executive directors namely Mr. Ip Shing-hing, Mr. Ng Wing Hang Patrick, Mr. Choy Wai Shek Raymond; and alternate directors namely Mr. Chan Chi-hing (alternate director to Mr. Deacon Te-ken Chiu) and Tang Sung-ki (alternate director to Mr. Desmond Chiu).

Please also refer to the published version of this announcement in The Standard dated 30 September 2004.

FAR EAST HOTELS AND ENTERTAINMENT LIMITED 30-9-2004 2