Walnut Capital Limited — Board/Management Information 2004

Apr 20, 2004

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HAYWOOD INVESTMENTS LIMITED

(Incorporated in the Cayman Islands with limited liability) (Stock Code: 905)

NOTICE OF RESIGNATION AND APPOINTMENT OF DIRECTOR

The board of directors (the “Board”) of Haywood Investments Limited (the “Company”) announces that Ms. Susan Wong has resigned as an independent non-executive director of the Company with effect from 1st April, 2004 for personal reasons of her own accord. There is no other matter that needs to be brought to the attention of the shareholders of the Company.

The Board is pleased to announce that Mr. Chang Kin Man was appointed as an independent non-executive director of the Company with effect from 19th April, 2004.

Mr. Chang is a certified public accountant in Hong Kong and a fellow member of the Association of Chartered Certified Accountants and an associate member of the Hong Kong Society of Accountants. Mr. Chang holds a Bachelor of Science degree in Economics and a Master’s degree in Applied Finance. Before joining the Company, Mr. Chang worked for an international audit firm and publicly listed companies for more than 10 years.

The Board takes this opportunity to thank Ms. Susan Wong for her past valuable contribution and service to the Company.

By order of the Board Haywood Investments Limited Wong Fong Kim Chairman

Hong Kong, 20th April, 2004

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