Medlive Technology Co., Ltd. — Board/Management Information 2005

Dec 2, 2005

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)

(Stock Code: 0921)

Announcement of the Resolutions of Board Meeting of Guangdong Kelon Electrical Holdings Company Limited

This announcement is made pursuant to Rule 13.09(2) of the Rules Governing the Listing of Securities on The Stock Exchange of Hong Kong Limited.

The board of directors (the “Board”) of Guangdong Kelon Electrical Holdings Company Limited (the “Company”) held a board meeting on 1 December 2005, Thursday (the “Board Meeting”) at the conference room of the Company’s head office located at Shunde District, Foshan City, Guangdong Province, the People’s Republic of China (the “PRC”) and a notice of the Board Meeting was despatched to all directors of the Company (the “Directors”) by mail and by fax on 20 November 2005. Out of the nine Directors, six Directors, namely executive directors Mr. Liu Cong Meng, Mr. Li Zhen Hua and Mr. Fang Zhi Guo and independent non-executive directors Mr. Li Kung Man, Mr. Xu Xiao Lu and Mr. Chan Pei Cheong, Andy attended the Board Meeting in person. The Board Meeting was presided by vice chairman Mr. Liu Cong Meng and was convened in accordance with the Company Law of the PRC and the articles of association of the Company. The following resolutions were passed after careful consideration by the Directors:

1. As Mr. Gu Chu Jun, Mr. Yan You Song and Mr. Zhang Hong, the executive directors of the Company, cannot properly fulfill their duties as executive directors of the Company, the proposed resolutions of the First 2006 Extraordinary General Meeting of the Company to be held on 20 January 2006 (the “EGM”) for the removal of such persons as executive directors of the Company was considered and approved.

2. The formal appointment of KPMG to carry out an investigation on material cash flows of the Company and its subsidiaries incurred between 1 October 2001 and 31 July 2005 was considered and approved.

3. The “Notice of the First 2006 Extraordinary General Meeting” (“The Notice”) was considered and approved. The Notice will be published separately.

This announcement is made by the order of the Board.

1 December 2005

1

At the request of the Company, trading in H Shares of the Company was suspended with effect from 10:00 a.m. on 16 June 2005 pending the release of an announcement in relation to price sensitive information. Subject to the publication of a further announcement in relation to, amongst others, the financial, production and trading position of the Group, trading in H shares of the Company will remain suspended until further notice.

By order of the Board of Guangdong Kelon Electrical Holdings Company Limited Liu Cong Meng Vice Chairman

As at the date of this announcement, the Company’s executive directors are Mr. Gu Chu Jun, Mr. Liu Cong Meng, Mr. Li Zhen Hua, Mr. Yan You Song, Mr. Zhang Hong and Mr. Fang Zhi Guo; and the independent non-executive directors are Mr. Chan Pei Cheong, Andy, Mr. Li Kung Man and Mr. Xu Xiao Lu.

As disclosed in the Company’s previous announcements, Mr. Gu, Mr. Yan and Mr. Zhang Hong had been formally arrested by the Foshan City Police. None of them can be contacted as at the date hereof. As such, Mr. Gu, Mr. Yan and Mr. Zhang Hong do not accept responsibility for the contents of this announcement.

Foshan City, Guangdong, the PRC, 1 December, 2005

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

2