XIAMEN YAN PALACE BIOENGINEERING CO., LTD. — M&A Activity 2011

May 23, 2011

Hong Kong Exchanges and Clearing Limited and The Stock Exchange of Hong Kong Limited take no responsibility for the contents of this announcement, make no representation as to its accuracy or completeness and expressly disclaim any liability whatsoever for any loss howsoever arising from or in reliance upon the whole or any part of the contents of this announcement.

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----- Start of picture text ----- (Incorporated in Bermuda with limited liability)Website: http://www.carrywealth.com(Stock Code: 643)----- End of picture text -----

APPOINTMENT OF INDEPENDENT FINANCIAL ADVISER

VC Capital Limited has been appointed as the independent financial adviser of the Company to advise the Independent Board Committee in relation to the Offer.

Reference is made to the joint announcement of Carry Wealth Holdings Limited (the “ Company ”) and Dragon Peace Limited (the “ Offeror ”) dated 17 May 2011 (the “ Joint Announcement ”) in relation to, among other things, the unconditional mandatory cash offer by Sun Hung Kai International Limited for and on behalf of the Offeror for all the issued Shares in the Company (other than those Shares already owned by the Offeror and parties acting in concert with it). Unless otherwise defined, capitalized terms used herein shall have the same meanings as defined in the Joint Announcement.

The Board wishes to announce that with the approval of the Independent Board Committee, VC Capital Limited has been appointed as the independent financial adviser of the Company to advise the Independent Board Committee in respect of the Offer. The advice of VC Capital Limited and the recommendation of the Independent Board Committee in respect of the Offer will be included in the Composite Document to be despatched to the Shareholders.

By order of the Board of Carry Wealth Holdings Limited Lee Sheng Kuang, James Managing Director

Hong Kong, 23 May 2011

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As at the date of this announcement, the Board of the Company comprises Messrs. Rusli Hendrawan (Chairman), Lee Sheng Kuang, James (Managing Director), Oey Tjie Ho and Tang Chak Lam, Charlie, being executive Directors; and Messrs. Cheung Kwok Ming, Kwok Lam Kwong, Larry, B.B.S., J.P. and Lau Siu Ki, Kevin, being independent non-executive Directors.

The Directors jointly and severally accept full responsibility for the accuracy of the information contained in this announcement, and confirm, having made all reasonable enquiries, that to the best of their knowledge, opinions expressed in this announcement have been arrived at after due and careful consideration and there are no other facts not contained in this announcement, the omission of which would make any such statement contained in this announcement misleading.

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