Persistence Gold Group Ltd — Board/Management Information 2004

Apr 14, 2004

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

(the “Company”)

(Incorporated in Bermuda with limited liability)

(Stock Code: 1104)

To All Shareholders of Shanghai Merchants Holdings Limited

To Shanghai Merchants Holdings Limited Clarendon House 2 Church Street Hamilton HM 11 Bermuda and Shanghai Merchants Holdings Limited 67th Floor, The Center 99 Queen’s Road Central Hong Kong

Attention: Board of Directors/The Secretary

To Shanghai Merchants Holdings Limited (in receivership)

c/o Grant Thornton, Certified Public Accountants 13th Floor Gloucester Tower 11 Pedder Street Central Hong Kong

Attention: Mr. Alan Chung Wah Tang/Ms. Alison Wong Lee Fung Ying, joint and several receivers and managers

Re:A Special General Meeting to be held on 26th April 2004 pursuant to Section 74 of the Companies Act 1981 of Bermuda (as amended) of Shanghai Merchants Holdings Limited (the “Company”)

We are members of the Company currently holding in aggregate not less than one-tenth of the issued share capital of the Company.

We hereby give you notice that we are going to propose the following persons for election as directors of the Company following the passing of the Special Resolution as specified in the Notice of Special General Meeting dated 2nd April 2004 at the special general meeting of the Company to be held at

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Chater Room 1, B/3, Regal Hongkong Hotel of 88 Yee Wo Street, Causeway Bay, Hong Kong on 26th April, 2004 at 9:00 a.m.:

List of Proposed Persons

1. Mr. Yue Jialin

2. Mr. Lau Yau Cheung Brent

Yours faithfully,

For and on behalf of Profit Harbour Investments Limited

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Yue Jialin Director

Hong Lui Cynthia

Date: 14th April, 2004

• For identification purpose only

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

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