Vision Values Holdings Ltd. — Board/Management Information 2007

Mar 8, 2007

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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)

APPOINTMENT OF INDEPENDENT NON-EXECUTIVE DIRECTOR

The Board is pleased to announce that Mr. Lau Wai Piu has been appointed as an independent non-executive director of the Company, the chairman and a member of both the Audit Committee and the Remuneration Committee of the Board, all with effect from March 8, 2007.

The Board of Directors (the “Board”) of New World Mobile Holdings Limited (the “Company”) is pleased to announce that Mr. Lau Wai Piu has been appointed as an independent non-executive director of the Company, the chairman and a member of both the Audit Committee and the Remuneration Committee of the Board, all with effect from March 8, 2007.

Mr. Lau Wai Piu, aged 42, is the chief financial officer of VOIPWORLD Limited, a private limited company incorporated in Hong Kong. He possesses over 20 years of extensive experience in accounting and financial management. Mr. Lau is a member of the Hong Kong Institute of Certified Public Accountants and a fellow of the Association of Chartered Certified Accountants.

Mr. Lau is an independent non-executive director of New World CyberBase Limited and Taifook Securities Group Limited, both of which are companies whose shares are listed on The Stock Exchange of Hong Kong Limited. Save as disclosed herein, Mr. Lau did not hold any directorships in any other listed public companies in the last three years preceding the date of this announcement.

There is no service contract entered into between Mr. Lau and the Company. He has no fixed term of service with the Company. Pursuant to the Articles of Association of the Company, Mr. Lau 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. Lau 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.

Mr. Lau 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. Lau 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. Lau 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 of Hong Kong Limited and there are also no other matters that need to be brought to the attention of the shareholders of the Company.

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

After the appointment of Mr. Lau as an independent non-executive Director of the Company, the number of independent non-executive directors and audit committee members still falls below the minimum number required under the Listing Rules. As disclosed in the announcement of the Company dated February 1, 2007, the Board will use its best endeavors to identify appropriate persons for appointment as the independent non-executive Directors, audit committee members and remuneration committee members of the Company before April 30, 2007 to fulfil the requirements under Rules 3.10(2), 3.11 and 3.23 of the Listing Rules. Further announcement will be made by the Company immediately upon fulfillment of the aforementioned Listing Rules.

By Order of the Board Tang Chi Kei Company Secretary

Hong Kong, March 8, 2007

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

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

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