Vision Values Holdings Ltd. — Board/Management Information 2005

Apr 6, 2005

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NEW WORLD MOBILE HOLDINGS LIMITED 新世界移動控股有限公司

(Incorporated in the Cayman Islands with limited liability)

(Stock Code: 862)

CHANGE IN DIRECTORSHIPS

1. Mr. Cheng Ming Fun, Paul, JP has resigned as an Independent Non-executive Director and a member of the Audit Committee of the Company with effect from 6 April 2005.

2. Mr. Hui Chiu Chung, JP has been appointed as an Independent Non-executive Director and a member of the Audit Committee of the Company with effect from 6 April 2005.

The Board of Directors (the “Board”) of New World Mobile Holdings Limited (the “Company”) announces that Mr. Cheng Ming Fun, Paul, JP has resigned as an Independent Non-executive Director and a member of the Audit Committee of the Company with effect from 6 April 2005. Since Mr. Cheng has assumed the chairmanship of The Link REIT with effect from 1 April 2005, he decides to resign from the Company in order to avoid any potential conflict of interest.

Mr. Cheng has confirmed to the Company that there is no disagreement with the Board and there is no matter relating to his resignation that needs to be brought to the attention of the shareholders of the Company.

The Board would like to take this opportunity to thank Mr. Cheng for his valuable contributions to the Company.

Furthermore, the Board is pleased to announce that Mr. Hui Chiu Chung, JP was appointed as an Independent Non-executive Director and a member of the Audit Committee of the Company with effect from 6 April 2005.

Mr. Hui Chiu Chung, JP , aged 57, is currently the Managing Director of UOB Kay Hian (Asia) Limited. Mr Hui has 33 years of experience in the securities and investment industry. Mr. Hui had for years been serving as Council Member and Vice-Chairman of The Stock Exchange of Hong Kong Limited. He was also a Director of the Hong Kong Securities Clearing Company Limited. He is at present a member of both of the Advisory Committee and the Academic and Accreditation Advisory Committee of Hong Kong Securities & Futures Commission, Appointed Member of Securities & Futures Appeals Tribunal, member of the Listing Committee of Hong Kong Exchange & Clearing Limited and Committee Member of the Hong Kong Stockbrokers Association. Mr. Hui also serves as independent non-executive director of several listed companies in Hong Kong.

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As at the date of this announcement, Mr. Hui does not have and is not deemed to have any interests or short positions in any shares, underlying shares or debentures of the Company and its associated corporations within the meaning of Part XV of the Securities and Futures Ordinance. He does not have any relationship with any other directors, senior management, substantial shareholders or controlling shareholders of the Company.

There is no service contract between the Company and Mr. Hui. He has no fixed term of service with the Company but will be subject to retirement by rotation and re-election at the annual general meeting in accordance with the Articles of Association of the Company. His emoluments will be determined by the Board pursuant to the authority granted by the shareholders at the annual general meetings.

By Order of the Board Ho Pui Sin Company Secretary

Hong Kong, 6 April 2005

As at the date of this announcement, the Board comprises:

Executive Directors:

Dr. Cheng Kar Shun, Henry (Chairman) , Mr. Doo Wai Hoi, William, JP (Vice Chairman) , Dr. Wai Fung Man, Norman (Chief Executive Officer) , Mr. To Hin Tsun, Gerald and Mr. Chow Yu Chun, Alexander

Non-executive Directors:

Mr. Lo Lin Shing, Simon and Mr. Ho Hau Chong, Norman

Independent Non-executive Directors:

Mr. Kwong Che Keung, Gordon, Mr. Hui Chiu Chung, JP , and Mr. Wei Chi Kuan, Kenny

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

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