Persistence Gold Group Ltd — Board/Management Information 2004

Jul 9, 2004

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SHANGHAI MERCHANTS HOLDINGS LIMITED

(Incorporated in Bermuda with limited liability)

Stock Code : 1104

ANNOUNCEMENT APPOINTMENT OF INDEPENDENT NON-EXECUTIVE DIRECTOR

The board of directors (the “Board”) of Shanghai Merchants Holdings Limited (the “Company”) announces the appointment of Mr. Wu Guo Jian as independent non-executive director of the Company with effect from 6th July, 2004. The brief biography of Mr. Wu Guo Jian is set out below.

Mr. Wu Guo Jian , aged 53, is a director of New Eva International Holdings Limited and he specializes in trading and property development for more than 15 years.

Trading in the shares of the Company has been suspended with effect from 9:30 a.m. on 2nd June, 2003 and will remain suspended until further notice.

As at the date of this announcement, the Board of the Company currently comprises of Mr. Yue Jialin and Mr. Lau Yau Cheung Brent, both of whom are executive directors and Mr. Wong Wing Kuen, Albert, Mr. Tsui Robert Che Kwong and Wu Guo Jian all of them are independent non-executive directors.

By order of the Board Shanghai Merchants Holdings Limited Lau Yau Cheung, Brent Director

Hong Kong, 8th July, 2004

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

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