hmvod Limited — Board/Management Information 2006

Feb 27, 2006

The Stock Exchange of Hong Kong Limited takes no responsibility for the contents of this announcement, makes no representation as to its accuracy or completeness and expressly disclaims any liability whatsoever for any loss howsoever arising from or in reliance upon the whole or any part of the contents of this announcement.

Tai Shing International (Holdings) Limited *

(Incorporated in the Cayman Islands with limited liability)

(Stock Code: 8103)

REDESIGNATION OF DIRECTOR AND RELATED CHANGES

The board of directors of the Company announces that further to the change in the ultimate beneficial owners of the single largest shareholder of the Company, Wide Source Group Ltd., Mr. Luk Yat Hung, currently the chairman and executive director of the Company, will be re-designated as chairman and non-executive director of the Company with effect from 1st March 2006.

On 27th February 2006, Tai Shing International (Holdings) Limited (the “Company”, together with its subsidiaries, the “Group”) received notice from each of Mr. Ma Bing and Mr. Luk Yat Hung (“Mr. Luk”) that Mr. Ma Bing has entered into agreement to transfer his entire 50% equity interests in Wide Source Group Ltd. (“Wide Source”), being the single largest shareholder holding approximately 23.67% shareholding interest in the Company, to Mr. Luk for a consideration of HK$200,000.00 (after deducting the amount of shareholder’s loan owed by Wide Source to the shareholders) on 27th February 2006. Mr. Luk is currently interested in 50% equity interest in Wide Source. Following the said transfer by Mr. Ma Bing, Mr. Luk will be interested in 100% equity interest in Wide Source.

Save for being a shareholder of Wide Source, Mr. Ma Bing does not hold any office in the Company.

RE-DESIGNATION OF DIRECTOR

Further to the agreement to transfer by Mr. Ma Bing of his entire 50% equity interest in Wide Source to Mr. Luk, Mr. Luk, currently the chairman and executive director of the Company, will be re-designated as chairman and non-executive director of the Company with effect from 1st March 2006.

Mr. Luk, aged 45, joined the Group as the chairman, executive director, qualified accountant and compliance officer of the Company in July 2003. Mr. Luk is a member of Chartered Association of Certified Accountants of the United Kingdom and a fellow member of Hong Kong Institute of Certified Public Accountants with a masters degree in business administration with Oklahoma City University in the United States of America. Mr. Luk has over 20 years of working experience with a number of international conglomerates performing functions of chief financial officer.

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Mr. Luk has not entered into any service contract with the Group and his tenure as director of the Company is subject to retirement by rotation and re-election in accordance with the Articles of Association of the Company. The remuneration of Mr. Luk is determined with reference to his relevant duties and responsibilities within the Company.

As at the date of this announcement, Mr. Luk was deemed interested in 21,542,476 shares of the Company (representing approximately 23.67% of the issued share capital of the Company) within the meaning of Part XV of the Securities and Futures Ordinance (Chapter 571 of the Laws of Hong Kong) by virtue of his interests in Wide Source. Save for the above, Mr. Luk does not have any relationship with any directors, senior management, management shareholders, substantial shareholders, or controlling shareholders of the Company.

RELATED CHANGES

Upon Mr. Luk’s redesignation as chairman and non-executive director of the Company, his position as the Company’s qualified accountant will be replaced by Mr. Young Wai Ching, being the secretary of the Company and is a practicing member of Hong Kong Institute of Certified Public Accountants and a member of Chartered Association of Certified Accountants of the United Kingdom, and Mr. Luk’s position as the Company’s compliance officer will be replaced by Ms Li Wenli, being an executive director of the Company.

By Order of the Board Tai Shing International (Holdings) Limited Ho Cho Hang Executive director

Hong Kong, 27th February 2006

As at the date of announcement, the Board comprises the following directors:

Executive directors: Mr. Ho Cho Hang Ms. Li Wenli Mr. Luk Yat Hung (Chairman)

Independent non-executive directors: Mr. Chung Shui Ming, Timpson Professor Ip Ho Shing, Horace Mr. Yan Yonghong Mr. Peng Lijun

This announcement will remain on the “Latest Company Announcement” page of the GEM website for at least 7 days from its date of publication.

This announcement, for which the directors of the Company collectively and individually accept full responsibility, includes particulars given in compliance with the GEM Listing Rules for the purpose of giving information with regard to the Company. The directors of the Company, having made all reasonable enquiries, confirm that, to the best of their knowledge and belief: (i) the information contained in this announcement is accurate and complete in all material respects and not misleading; (ii) there are no other matters the omission of which would make any statement in this announcement misleading; and (iii) all opinions expressed in this announcement have been arrived at after due and careful consideration and are founded on bases and assumptions that are fair and reasonable.

* For identification purpose only

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