ZO Future Group — Board/Management Information 2005

Feb 1, 2005

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GRANDTOP INTERNATIONAL HOLDINGS LIMITED 泓鋒國際控股有限公司[*]

(incorporated in the Cayman Islands with limited liability)

(Stock Code: 2309)

APPOINTMENT OF EXECUTIVE DIRECTOR

The Board of Directors of Grandtop International Holdings Limited (the “Company”) is pleased to announce that Ms. Mao Yue (“Ms. Mao”) has been appointed as an executive director of the Company with effect from 1 February 2005.

Ms. Mao, aged 27, has approximately 5 years of experience in market research and general administration works. Ms Mao holds a bachelor degree in psychology.

Ms. Mao is not connected with any directors, senior management or substantial or controlling shareholders of the Company, and she does not have any interests in the shares of the Company within the meaning of Part XV of the Securities and Futures Ordinance.

There is no service contract entered into between the Company and Ms. Mao. Ms Mao has no fixed term of service with the Company but will be subject to retirement by rotation and reelection in accordance with the Articles of Association of the Company. Ms. Mao emolument will be payable based on her experience and qualifications.

The Board would like to take this opportunity to welcome Ms. Mao Yue to join the Board.

By Order of the Board

Edmund Siu

Company Secretary

Hong Kong, 1 February 2005

1

GRANDTOP INTERNATIONAL HOLDINGS LIMITED – announcement

1st February, 2005

As at the date of this announcement, the Board comprises of three executive directors namely Mrs. Tsai Lai Wa, Jenny, Mr. Edmund Siu and Ms Mao Yue and three independent nonexecutive directors namely, Miss Lo Wing Yan, Emmy, Mr. Fu Wing Kwok, Mr. Liang Kwong Lim

• for identification purpose only.

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

2

GRANDTOP INTERNATIONAL HOLDINGS LIMITED – announcement

1st February, 2005