ZO Future Group — Board/Management Information 2007

Dec 12, 2007

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

(Incorporated in Cayman Islands with limited liability)

(Stock Code: 2309)

APPOINTMENT OF NON-EXECUTIVE DIRECTOR

The Board of Directors (the “Board”) of Grandtop International Holdings Limited (the “Company”) is pleased to announce that Mr. Chan Wai Keung (“Mr. Chan”) has been appointed as an Non-Executive Director of the Company with effect from 12 December 2007.

Mr. Chan, aged 54, is the committee member of the People’s Political Consultation Committee of Lungguang, Shenzhen, the People’s Republic of China since 1998. Currently, he is an Executive Director of China Energy Development Holdings Limited (stock code 228) which is listed on the Main Board of the Stock Exchange of Hong Kong. He is also the President of Global Resources Recovery (Canada) Inc., GRR Conception Recycling Inc. and the Chief Executive Officer of True Product ID Technology Limited, China Fishery and Agriculture Bioenvironmental Technology (Hong Kong) Ltd. and Sure Trace Security Corporation (shares of which are listed in OTC Bulletin Board). Mr. Chan has over 25 years of experience in the operation of business development, China trade, international trade and venture capital etc.

There is no service contract entered into between the Company and Mr. Chan. He has no fixed term of service with the Company. Mr. Chan will hold office until the next annual general meeting of the Company and will be subject to retirement by rotation and re-election in accordance with the Articles of Association of the Company. He will be entitled to directors’ fee to be determined by the Remuneration Committee of the Company with reference to his duties and responsibility in the Company and the market benchmark.

Save as disclosed above, Mr. Chan has not held directorship in any other listed companies in Hong Kong in the last three years, and has not previously held any positions with the Company or any of its subsidiaries. He does not have any interest in the shares of the Company within the meaning of Part XV of the Securities and Futures Ordinance. Mr. Chan, does not have any relationship with any director, senior management or substantial or controlling shareholder of the Company.

On 15 March 1994, a winding-up order against Cheer Empire Investments Limited (“Cheer Empire”) involving the claimed amount of HK$3 million was filed with the Companies Register of Hong Kong at the time when Mr. Chan was a director of Cheer Empire. Cheer Empire was dissolved subsequently by compulsory winding-up on 23 February 1997. On 8 May 1996, a winding-up order against Kongo International Limited (“Kongo International”) involving the claimed amount of HK$7 million was filed with the Companies Register of Hong Kong at the time when Mr. Chan was a director of Kongo International. Kongo International was dissolved subsequently on 15 November 2000.

* for identification purpose only

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Save as disclosed above, no company has been dissolved or put into liquidation (otherwise than by a members’ voluntary winding up when the company was solvent) or bankruptcy or been the object of an analogous proceeding, or entered into any form of arrangement or composition with creditors, or had a receiver, trustee or similar officer appointed over it during the period when Mr. Chan was one of its director or within 12 months after his ceasing to act as one of its directors.

Saved as disclosed above, the Board is not aware of any matter in relation to the appointment of Mr. Chan that is required to be disclosed pursuant to Rule 13.51(2)(h) to (v) of the Rules Governing the Listing of Securities on the Stock Exchange and any other matter that needs to be brought to the attention of the shareholders of the Company.

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

By Order of the Board Grandtop International Holdings Limited Hui Ho Luek, Vico Executive Director

Hong Kong, 12 December 2007

As at the date of this announcement, the Board comprises of executive directors, namely Mr. Yeung Ka Sing, Carson, Mr. Hui Ho Luek, Vico, Mr. Steven McManaman, Mr. Fan Zhi Yi, Mr. Lee Yiu Tung, Mr. Ip Wing Lun, Ms. Wong Po Ling, Pauline and Ms. Bessie Siu; non-executive directors, namely Mr. Christian Lali Karembeu and Mr. Chan Wai Keung and independent non-executive directors, namely Mr. Chang Kin Man, Mr. Zhou Han Ping, Mr. Yip Man Ki and Mr. Yau Yan Ming, Raymond.

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