Joy Spreader Group Inc. — Board/Management Information 2007

Sep 19, 2007

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.

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(Incorporated in Bermuda with limited liability) (Stock Code: 8279)

APPOINTMENT OF EXECUTIVE DIRECTOR

The Board is pleased to announce that, with effect from 19 September 2007, Mr. BAI Jinmin has been appointed as executive Director of the Company.

The board (the “Board”) of directors (the “Directors”) of AGTech Holdings Limited (the “Company”, together with its subsidiaries, the “Group”) is pleased to announce that, with effect from 19 September 2007, Mr. BAI Jinmin (“Mr. Bai”) has been appointed as executive Director of the Company. As at the date of this announcement, Mr. Bai is also a director of 世纪星彩企业管理有限公司(China Lottery Management Co., Ltd.) and 廣東亞博星彩信息技術有限公司 (Guangdong AGTech Information Technology Co., Ltd.), both being indirect wholly-owned subsidiaries of the Company.

Mr. Bai, aged 41, has over 13 years of experience in business development, investment, corporate management and strategic planning. Mr. Bai holds a bachelor degree in Engineering from 杭州電子工業學院 (the Electronics Institute of Hangzhou), the People’s Republic of China (now known as Hangzhou Dianzi University (杭州電子科技大學) and a Master of Business Administration degree from the National University of Singapore.

Mr. Bai is appointed under a service contract for a term of two years, unless such contract is terminated by either party giving the other party not less than 3 months’ notice in writing. He will be entitled to a fixed basic salary of HK$100,000 per month (which was mutually agreed with reference to his duties and responsibilities) plus a discretionary bonus which is determined based on the business performance of the Company and his own performance. Mr. Bai may

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also be granted share options by the Company from time to time pursuant to the share option scheme of the Company. He will hold office until the next following general meeting of the Company and shall then be eligible for re-election at that meeting pursuant to the Bye-laws of the Company.

Mr. Bai was an executive director of STAR Pharmaceutical Limited, a company listed on Singapore Exchange Limited, from September 2005 to August 2006. Save as disclosed herein, Mr. Bai did not hold any directorship in any listed companies in the past three years. He is not connected with any Director, senior management and management, substantial or controlling shareholders of the Company.

In accordance with the meaning of Part XV of the Securities and Futures Ordinance (“SFO”), as at the date of this announcement, Mr. Bai is interested in a share option granted by the Company to him under the share option scheme of the Company adopted on 18 November 2004, which entitles him to subscribe for up to 26,750,000 shares of HK$0.002 each of the Company (“Shares”) at an exercise price of HK$1.77 each (subject to adjustment). Mr. Bai is also deemed to be interested in 237,580,000 Shares (representing approximately 6.64% of the existing issued share capital of the Company) held directly by Fine Bridge International Limited (“Fine Bridge”). Under the SFO, Mr. Bai was deemed to own those 237,580,000 Shares since he owns the entire issued share capital of HB Resources Investment Limited which in turn owns the entire issued share capital of Fine Bridge.

Save as disclosed above, the Board is not aware of any matter in relation to the appointment of Mr. Bai that is required to be disclosed pursuant to Rule 17.50(2)(h) to (v) of the Rules Governing the Listing of Securities on the Growth Enterprise Market of The Stock Exchange of Hong Kong Limited (the “GEM Listing Rules”) or needs to be brought to the attention of the shareholders of the Company.

The Board would like to extend its warmest welcome to Mr. Bai in joining the Board.

By order of the Board AGTech Holdings Limited SUN Ho Chairman

Hong Kong, 19 September 2007

As at the date of this announcement, the Board comprises (i) Mr. SUN Ho, Mr. Robert Geoffrey RYAN and Mr. BAI Jinmin as executive Directors; and (ii) Mr. WANG Ronghua, Mr. HUA Fengmao and Mr. KWOK Wing Leung Andy as independent non-executive Directors.

This announcement, for which the Directors 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, having made all reasonable enquiries, confirm that, to the best of their knowledge and belief: (1) the information contained in this announcement is accurate and complete in all material respects and not misleading; (2) there are no other matters the omission of which would make any statement in this announcement misleading; and (3) 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.

This announcement will remain at www.hkgem.com on the “Latest Company Announcements” page of the GEM website for at least 7 days from the date of its posting.

* For identification purpose only

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