Wang On Group Limited — Board/Management Information 2004

Sep 23, 2004

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WANG ON GROUP LIMITED （宏安集團有限公司） *

(Incorporated in Bermuda with limited liability)

(Stock Code: 1222)

APPOINTMENT OF INDEPENDENT NON-EXECUTIVE DIRECTOR

The board of directors (the “Board”) of Wang On Group Limited (the “Company”) is pleased to announce that Mr. Siu Kam Chau (“Mr. Siu”) was appointed as independent non-executive director of the Company and a member of the Company’s audit committee with effect from 24 September 2004.

Mr. Siu, aged 40, holds a bachelor degree in accountancy from the City University of Hong Kong. He is a fellow of the Association of Chartered Certified Accountants and the Hong Kong Institute of Certified Public Accountants. He is also a Certified Public Accountant (Practising). During the last three years, Mr. Siu held no other directorship in listed company save as being a non-executive director of KEL Holdings Limited, a non-executive director of Deson Development International Holdings Limited and an executive director of Town Health International Holdings Company Limited until his resignations on 26 September 2001, 26 September 2001 and 6 January 2003, respectively.

The appointment of Mr. Siu is for a period of two years, and is subject to the rotational retirement and reelection requirements at annual general meeting pursuant to the bye-laws of the Company. Pursuant to the letter of appointment entered into between the Company and Mr. Siu, he will be only entitled to a director’s fee in the amount of HK$10,000 per month. Such fee is determined with reference to his duties as an independent non-executive director of the Company. He will be also entitled to a fee in the amount of HK$20,000 per annum determined with reference to his duties as a member of the Company’s audit committee.

Mr. Siu is and was not connected with any directors, senior management or substantial or controlling shareholders of the Company. As at the date hereof, Mr. Siu 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 herein, the Board is not aware of any matters relating to the above appointment 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. Siu Kam Chau to join the Board.

By the Order of the Board of WANG ON GROUP LIMITED Tang Ching Ho Chairman and Managing Director

Hong Kong, 23 September 2004.

As at the date of this announcement, the board of directors comprise three executive directors, namely Mr. Tang Ching Ho, Ms. Yau Yuk Yin and Mr. Chan Chun Hong, Thomas, and three independent nonexecutive directors, namely Dr. Lee Peng Fei, Allen, Mr. Wong Chun, Justein and Dr. Siu Yim Kwan, Sidney.

• for identification purpose only

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

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