JD Logistics, Inc. — Board/Management Information 2004

Aug 5, 2004

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(Stock Code: 1172)

APPOINTMENT OF INDEPENDENT NON-EXECUTIVE DIRECTORS AND RE-DESIGNATION OF DIRECTOR

The board of directors (the “Board”) of Midas International Holdings Limited (the “Company”) is pleased to announce the appointment of Dr. Li Sau Hung, Eddy and Mr. Yau Chi Ming as Independent Non-Executive Directors of the Company with effect from 5th August, 2004. On the same date, Mr. Dominic Lai has been re-designated as a Non-Executive Director of the Company.

The Board is pleased to announce that Dr. Li Sau Hung, Eddy and Mr. Yau Chi Ming have been appointed as Independent Non-Executive Directors of the Company with effect from 5th August, 2004. On the same date, Mr. Dominic Lai has been re-designated as a Non-Executive Director of the Company.

Dr. Li Sau Hung, Eddy, aged 49, has over 20 years’ experience in the manufacturing business. He is a member of the Chinese People’s Political Consultative Committee, the president of Hong Kong Economic & Trade Association and a member of the TDC Watch Trade Advisory Committee. Dr. Li holds a master degree in business administration and a Ph.D. degree in economics. He was a 1991 awardee of The Ten Outstanding Young Persons and the 1993 awardee of Young Industrialists of Hong Kong. He is currently an Independent Non-Executive Director of Jackin International Holdings Limited, Oriental Watch Holdings Limited and Man Yue International Holdings Limited, all are listed on The Stock Exchange of Hong Kong Limited (the “Stock Exchange”).

Mr. Yau Chi Ming, aged 51, is a practising certified public accountant in Hong Kong with over 20 years of experience. He is a fellow member of the Association of Chartered Certified Accountants in the United Kingdom and an associate member of the Hong Kong Society of Accountants, the Institute of Chartered Secretaries and Administrators in the United Kingdom and the Certified General Accountants’ Association in Canada. He has not held any directorships in any other listed companies in the last three years.

Mr. Dominic Lai, aged 57, was an Independent Non-Executive Director of the Company from 20th March, 2000 until his re-designation as a Non-Executive Director of the Company on 5th August, 2004. He is a practising solicitor in Hong Kong and is admitted as a solicitor in England and Wales, the Republic of Singapore and the States for New South Wales and Victoria, Australia. In the last three years, Mr. Lai had been an Independent Non-Executive Director of Everbest Century Holdings Limited and is currently an Independent Non-Executive Director of ITC Corporation Limited, Midland Realty (Holdings) Limited, NWS Holdings Limited, New World TMT Limited, Oriental Press Group Limited, Regal Hotels International Holdings Limited, Winfoong International Limited and Wing On Travel (Holdings) Limited, all are listed on the Stock Exchange.

There is neither any service contract being executed between the Company and each of the above directors nor any specified length or proposed length of service with the Company in respect of the aforesaid appointment or re-designation. Pursuant to the Articles of Association of the Company, Dr. Li

* For identification purpose only

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and Mr. Yau 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 Mr. Lai and other directors of the Company. Each of them 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.

Dr. Li, Mr. Yau and Mr. Lai have no relationships with any directors, senior management or substantial or controlling shareholders of the Company and as at the date of this announcement, 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 takes this opportunity to welcome Dr. Li and Mr. Yau.

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 are Executive Directors, Mr. Lee Sai Wai and Mr. Dominic Lai are Non-Executive Directors, Dr. Li Sau Hung, Eddy, Mr. Shek Lai Him, Abraham 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, 5th August, 2004

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

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