Silkwave Inc — Board/Management Information 2004

Sep 28, 2004

SOUTH CHINA HOLDINGS LIMITED

(Incorporated in the Cayman Islands with limited liability)

(Stock code: 265)

APPOINTMENT OF INDEPENDENT NON-EXECUTIVE DIRECTOR AND AUDIT COMMITTEE MEMBER

The Board of Directors (the “Board”) of South China Holdings Limited (the “Company”) is pleased to announce that Mr. Cheng Hong Kei (“Mr. Cheng”) was appointed as an independent non-executive director and a member of audit committee of the Company with effect from 28 September 2004.

Mr. Cheng, aged 50, is a co-founding director of Cheng & Cheng Limited, Certified Public Accountants, in Hong Kong. He studied accountancy at Hong Kong Polytechnic (now known as The Hong Kong Polytechnic University) and was admitted as a Certified Public Accountant in Hong Kong in 1991. Mr. Cheng has 30 years of experience in the accounting field. Prior to establishing of his own practice, he worked as an assessor for the Hong Kong Inland Revenue Department for 12 years.

Mr. Cheng does not have any interest in any shares or underlying shares of the Company within the meaning of Part XV of the Securities and Futures Ordinance (Chapter 571 of the Laws of Hong Kong). He has not entered into any service contract with the Company and is subject to retirement by rotation and re-election in accordance with the articles of association of the Company. The director’s fee payable to Mr. Cheng will be fixed by the Board subject to shareholders’ approval in annual general meeting. Mr. Cheng is not connected with any directors, senior management or substantial or controlling shareholders of the Company.

The Board would like to extend its warmest welcome to Mr. Cheng to join the Board.

By Order of the Board Cheung Choi Ngor Director

Hong Kong, 28 September 2004

As at the date of this announcement, the Board of Directors of the Company comprises (1) Mr. Ng Hung Sang, Robert, Mr. Richard Howard Gorges, Ms. Cheung Choi Ngor, Ms. Ng, Jessica Yuk Mui and Mr. Ng Yuk Fung, Peter as executive directors; (2) Mr. David Michael Norman as independent non-executive director; and (3) Mr. David John Blackett, Ms. Wong Siu Yin, Elizabeth and Mr. Cheng Hong Kei as independent non-executive directors.

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

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