Silkwave Inc — Board/Management Information 2005

Jul 4, 2005

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South China Holdings Limited

(Incorporated in the Cayman Islands with limited liability)

(Stock Code: 265)

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South China Industries Limited

(Incorporated in the Cayman Islands with limited liability) (Stock Code: 413)

RE-DESIGNATION OF DIRECTOR

The board of directors of South China Holdings Limited and South China Industries Limited (the “Companies”) announce that Ms. Ng, Jessica Yuk Mui (“Ms. Ng”) has been re-designated from executive director to non-executive director of the Companies with effect from 1 July 2005.

Ms. Ng, aged 27, is a non-executive director of Jessica Publications Limited and Capital Publications Limited. Ms. Ng holds a bachelor’s degree in law from King’s College London, University of London in the United Kingdom. Ms. Ng is an associate member of the Chartered Institute of Management Accountants and a member of the Chinese People’s Political Consultative Conference Tianjin Provincial Committee.

Ms. Ng does not have any interest in any shares of the Companies within the meaning of Part XV of the Securities and Futures Ordinance (Chapter 571 of the Laws of Hong Kong). She has not entered into any service contract with the Companies. Ms. Ng is subject to retirement by rotation and re-election in accordance with the articles of association of the Companies. The director’s fee payable to Ms. Ng will be fixed by the respective board of directors of the Companies subject to the approval of the shareholders in their annual general meetings. Ms. Ng is a daughter of Mr. Ng Hung Sang, Robert, the chairman and controlling shareholder of the Companies, and a sister of Mr. Ng Yuk Fung, Peter, an executive director of the Companies. Save as aforesaid, Ms. Ng does not have any other relationships with any directors, senior management or substantial or controlling shareholders of the Companies. Ms. Ng confirmed that she is not aware of any matters relating to the re-designation that need to be brought to the attention of the shareholders of the Companies.

By Order of the Board South China Holdings Limited Cheung Choi Ngor Director

By Order of the Board South China Industries Limited Cheung Choi Ngor Director

Hong Kong, 4 July 2005

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

As at the date of this announcement, the board of directors of South China Industries Limited comprises (1) Mr. Ng Hung Sang, Robert, Mr. Richard Howard Gorges, Ms. Cheung Choi Ngor and Mr. Ng Yuk Fung, Peter as executive directors; (2) Ms. Ng, Jessica Yuk Mui as nonexecutive director; and (3) Mr. Lee Wai Choi, Albert, Mr. Chiu Sin Chun, Mrs. Tse Wong Siu Yin, Elizabeth and Ms. Li Yuen Yu, Alice as independent non-executive directors.

Copy of this announcement can be obtained from our website www.sctrade.com

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

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