Vision Values Holdings Ltd. — Board/Management Information 2007

Apr 30, 2007

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

(Incorporated in Cayman Islands with limited liability)

(Stock code: 862)

APPOINTMENT OF INDEPENDENT NON-EXECUTIVE DIRECTOR AND CHANGE OF PRINCIPAL PLACE OF BUSINESS

The Board is pleased to announce that Mr. Lee Kee Wai, Frank has been appointed as an independent non-executive director, a member of the Audit Committee and a member of the Remuneration Committee of the Company, all with effect from April 27, 2007.

The Company also announces the change of its principal place of business.

APPOINTMENT OF INDEPENDENT NON-EXECUTIVE DIRECTOR

The Board of Directors (the “Board”) of New World Mobile Holdings Limited (the “Company”) is pleased to announce that Mr. Lee has been appointed as an independent non-executive director of the Company and a member of the Audit Committee and a member of Remuneration Committee of the Company, all with effect from April 27, 2007.

Mr. Lee Kee Wai, Frank, aged 48 is the Senior Partner of Messrs. Vincent T.K. Cheung, Yap & Co., Solicitors and Notaries. Mr. Lee is a qualified solicitor in the respective jurisdictions of Hong Kong, England, Singapore and the Australian Capital Territory. He is also a ChinaAppointed Attesting Officer and a member of the Chartered Institute of Arbitrators. Mr. Lee is a graduate of Bachelor of Laws from the London School of Economics & Political Science and has also obtained a Master of Laws degree from Cambridge University. Mr. Lee is currently also a non-executive director of Pico Far East Holdings Limited, a company whose shares are listed in the Main Board of The Stock Exchange of Hong Kong Limited (the “Stock Exchange”).

There is no service contract entered into between Mr. Lee and the Company. He has no fixed term of service with the Company. Pursuant to the Articles of Association of the Company, Mr. Lee will retire and be eligible for re-election at the next annual general meeting. Thereafter, he will be subject to retirement by rotation and re-election. Mr. Lee is entitled to a director’s fee of HK$120,000 per annum which is determined by reference to his duties and responsibilities with the Company, subject to review by the Board from time to time.

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Mr. Lee has not previously held any positions with the Company or any of its subsidiaries. He has no relationships with any directors, senior management or substantial or controlling shareholders of the Company. As at the date of this announcement, Mr. Lee does not have any interests in the shares of the Company within the meaning of Part XV of the Securities and Futures Ordinance. Save as disclosed above, there are no more information relating to the appointment of Mr. Lee that should be disclosed pursuant to any of the requirements of Rule 13.51(2) (h) to (v) of the Rules Governing the Listing of Securities on the Stock Exchange and there are also no other matters that need to be brought to the attention of the shareholders of the Company.

The Board would like to take this opportunity to welcome Mr. Lee to join the Board.

After the appointment of Mr. Lee as an independent non-executive Director of the Company, the number of independent non-executive Directors, Audit Committee members and Remuneration Committee members fulfil the requirements under Rules 3.10, 3.11 and 3.23 of the Listing Rules.

CHANGE OF PRINCIPAL PLACE OF BUSINESS

The principal place of business of the Company will be changed to Rooms 1502-5, New World Tower 1, 16-18 Queen’s Road Central, Hong Kong with effect from May 2, 2007.

By Order of the Board New World Mobile Holdings Limited Tang Chi Kei Company Secretary

Hong Kong, April 27, 2007

As at the date hereof, the Board comprises five Directors, of which Mr. Lo Lin Shing, Simon and Mr. Ho Hau Chong, Norman are executive Directors, Mr. Tsui Hing Chuen, William, JP, Mr. Lau Wai Piu and Mr. Lee Kee Wai, Frank are independent non-executive Directors.

Please also refer to the published version of this announcement in China Daily.

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