Persistence Gold Group Ltd — Board/Management Information 2004

Apr 27, 2004

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SHANGHAI MERCHANTS HOLDINGS LIMITED 上海商貿控股有限公司[*]

(Incorporated in Bermuda with limited liability)

(the “Company”)

(Stock Code: 1104)

RESULTS OF THE SPECIAL GENERAL MEETING HELD ON 26TH APRIL 2004

Pursuant to the notice dated 2nd April 2004 and the notice of intention to appoint director dated 14th April 2004 respectively, the Requisitionists (as mentioned under the notice dated 2nd April 2004) are pleased to announce that at the Special General Meeting (“SGM”) held on 26th April 2004, the following special and ordinary resolutions were duly passed in the SGM:

• (1) that Ms. MO Yuk Ping and Ms. GONG Bei Ying, Angela be removed as directors of the Company with immediate effect;

• (2) that Mr. Yue Jialin be appointed as the director of the Company; and

• (3) that Mr. Brent Lau Yau Chueng be appointed as the director of the Company.

Profit Harbour Investments Limited Yue Jialin Director and Hong Lui Cynthia

26th April, 2004

• For identification purpose only

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

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