JD Logistics, Inc. — Board/Management Information 2007

Feb 28, 2007

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(Stock Code: 1172)

CHANGE OF THE CHAIRMAN AND EXECUTIVE DIRECTORS

The board of the directors (the “Board”) of Midas International Holdings Limited (the “Company”) announces that (i) Mr. Ko Sheung Chi (“Mr. Ko”) has resigned as the Chairman and an Executive Director of the Company and (ii) Mr. Paul Tang Chow Ming (“Mr. Tang”) has resigned as an Executive Director of the Company, both with effect from 27th February, 2007. The Board also announces that Mr. Richard Hung Ting Ho (“Mr. Hung”) has been appointed as the Chairman and an Executive Director of the Company with effect from 27th February, 2007.

Resignation of the Chairman and Executive Directors

The Board of the Company announces that (i) Mr. Ko has resigned as the Chairman and an Executive Director of the Company so as to concentrate his roles as the Managing Director of Chuang’s Consortium International Limited (“CCIL”), a company listed on the Stock Exchange of Hong Kong Limited (“Stock Exchange”) and the controlling shareholder of the Company, and the Chairman of Chuang’s China Investments Limited (“Chuang’s China”), a subsidiary of CCIL listed on the Stock Exchange, and (ii) Mr. Tang has resigned as an Executive Director of the Company due to his personal commitments, both with effect from 27th February, 2007. Mr. Ko and Mr. Tang confirmed that they had no disagreement with the Board and there is no matter that needs to be brought to the attention of the shareholders of the Company.

Appointment of the Chairman and an Executive Director

The Board also announces that Mr. Hung has been appointed as the Chairman and an Executive Director of the Company with effect from 27th February, 2007.

Mr. Hung, aged 53, has more than 28 years of experience in corporate development and general administration. He is a fellow member of the Hong Kong Institute of Certified Public Accountants and an associate member of The Hong Kong Institute of Chartered Secretaries. Mr. Hung is a Non-Executive Director of CNT Group Limited, a company listed on the Stock Exchange, the consultant of a subsidiary of Chuang’s China and the directors of certain associated companies of Chuang’s China.

Mr. Hung has no service contract executed with the Company and does not have 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. Hung will hold office until the first general meeting of the Company after his appointment and will be eligible for re-election at such meeting. Mr. Hung will be subject to retirement and re-election at least once every 3 years pursuant to the Code on Corporate Governance Practices (Appendix 14) of the Rules Governing the Listing of Securities on the Stock Exchange (the “Listing Rules”) and the Articles of Association of the Company. The director’s fee entitled by Mr. Hung will be HK$30,000 per annum, subject to adjustment as appropriate to be determined by the Board. As at the date of this announcement, Mr. Hung does not have any interests in the shares of the Company within the meaning of Part XV of the Securities and Futures Ordinance. Except mentioned above, Mr. Hung has no relationships with any directors, senior management or substantial or controlling shareholders of the Company. There is no information required to be disclosed pursuant to any of the requirements of Rule 13.51(2)(h) to (v) of the Listing Rules and no matter that needs to be brought to the attention of the shareholders of the Company.

The Board takes this opportunity to express its gratitude to Mr. Ko and Mr. Tang for their valuable contributions to the Company and welcome Mr. Hung.

As at the date of this announcement, Mr. Richard Hung Ting Ho, Mr. Kwong Tin Lap, Mr. Kwok Chi Fai, Miss Ann Li Mee Sum and Mr. Wong Chi Sing are Executive Directors, Mr. Dominic Lai is a NonExecutive Director, Mr. Abraham Shek Lai Him, Dr. Eddy Li Sau Hung and Mr. Yau Chi Ming are Independent Non-Executive Directors.

By Order of the Board of Midas International Holdings Limited Kwong Tin Lap Managing Director

Hong Kong, 27th February, 2007

* For identification purpose only

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