JD Logistics, Inc. — Board/Management Information 2004

Aug 26, 2004

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(Stock Code: 1172)

APPOINTMENT OF EXECUTIVE DIRECTOR

The board of directors (the “Board”) of Midas International Holdings Limited (the “Company”) is pleased to announce the appointment of Mr. Wong Chi Sing as an Executive Director of the Company with effect from 25th August, 2004.

The Board is pleased to announce that Mr. Wong Chi Sing has been appointed as an Executive Director of the Company with effect from 25th August, 2004.

Mr. Wong Chi Sing, aged 33, has over 11 years of experience in finance, accounting and auditing. He graduated from the Chinese University of Hong Kong with a bachelor degree in business administration and worked in an international accountancy firm for over 3 years. In 1996, Mr. Wong joined Chuang’s Consortium International Limited (“CCIL”), a company listed on The Stock Exchange of Hong Kong Limited (“Stock Exchange”). He was the chief accountant of CCIL before he was promoted as an assistant to the managing director of Chuang’s China Investments Limited, a subsidiary of CCIL which is listed on the Stock Exchange.

There is neither any service contract being executed between the Company and Mr. Wong nor any specified length or proposed length of service with the Company in respect of the aforesaid appointment. Pursuant to the Articles of Association of the Company, Mr. Wong will hold office until the annual general meeting of the Company to be held in 2005 and will be eligible for re-election at the meeting and thereafter will be subject to rotation requirements as other directors of the Company. Mr. Wong will be entitled to a director’s fee to be determined by the Board as authorised by the shareholders at the annual general meeting of the Company held in 2004.

There is an employment contract between Mr. Wong and a subsidiary of the Company which can be terminated by either party giving to other party three months written notice without payment of compensation (other than statutory compensation). Mr. Wong is entitled to an annual emolument of approximately HK$480,000 including salary and contributory retirement fund benefits. Mr. Wong’s emoluments are determined with reference to his experience and duties as well as the prevailing market conditions.

Mr. Wong has no relationships with any directors, senior management or substantial or controlling shareholders of the Company. As at the date of this announcement, Mr. Wong 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 takes this opportunity to welcome Mr. Wong.

As at the date of this announcement, Mr. Chan Sheung Chiu, Mr. Kwong Tin Lap, Mr. Kwok Chi Fai, Ms. Li Mee Sum, Ann, Mr. Tang Chow Ming, Paul and Mr. Wong Chi Sing are Executive Directors, Mr. Lee Sai Wai and Mr. Dominic Lai are Non-Executive Directors, Mr. Shek Lai Him, Abraham, Dr. Li Sau Hung, Eddy and Mr. Yau Chi Ming are Independent Non-Executive Directors of the Company.

By Order of the Board of Midas International Holdings Limited Chan Sheung Chiu

Chairman

Hong Kong, 25th August, 2004

* For identification purpose only

“Please also refer to the published version of this announcement in The Standard”.