Medlive Technology Co., Ltd. — Board/Management Information 2003

Aug 15, 2003

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.

GUANGDONG KELON ELECTRICAL HOLDINGS COMPANY LIMITED 廣東科龍電器股份有限公司

(a joint stock limited company incorporated in the People’s Republic of China with limited liability)

ANNOUNCEMENT ON RESOLUTIONS OF THE BOARD OF DIRECTORS

A meeting of the board of directors (the “Board”) of Guangdong Kelon Electrical Holdings Company Limited (the “Company”) was held on 15 August 2003 by telephone conference at the Company’s headquarters in Shunde, Guangdong Province. The meeting was attended by all of the nine directors. The meeting was duly constituted and held in accordance with the Company Law of the People’s Republic of China and the articles of association of the Company. The meeting was chaired by Mr. Gu Chu Jun, and the following resolutions were passed:

1. That the interim report of the Company for the six months ended 30 June 2003 be approved;

2. That the summary of the results of the Company for the six months ended 30 June 2003 be approved; and

3. That the profit distribution proposal of the Company for the six months ended 30 June 2003 be approved: The Board resolved not to distribute profit for the first half of 2003, not to pay any interim dividend nor make any distribution to shareholders of the Company. The Board also resolved not to make any transfer of capital reserve.

By the Order of the Board Guangdong Kelon Electrical Holdings Company Limited Gu Chu Jun Chairman

Shunde, Guangdong, the PRC, 15 August 2003

“Please also refer to the published version of this announcement in China Daily”

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