ZO Future Group — Board/Management Information 2007

Jun 20, 2007

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 (the “Board”) of Grandtop International Holdings Limited (the “Company”) is pleased to announce that Mr. Hui Ho Luek, Vico (“Mr. Hui”) has been appointed as an Executive Director of the Company with effect from 20 June 2007.

Mr. Hui, aged 41, has accumulated over 20 years of experience in management of business trade and project investments.

As at the date of this announcement, Mr. Hui is a sole director and shareholder of Premier Rise Investments Limited, which had interests in 96,000,000 shares of the Company, which represented 16.67% of the issued share capital of the Company under Part XV of the Securities and Future Ordinance. He is the spouse of Ms. Leung Choi Fan, who had interests in 18,975,000 shares of the Company, which represents 3.29% of the issued share capital of the Company under Part XV of the Securities and Future Ordinance.

There is no service contract entered into between the Company and Mr. Hui. He has no fixed term of service with the Company. Mr. Hui 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. Hui has not held directorship in any other listed companies in the last three years, and has not previously held any positions with the Company or any of its subsidiaries. Mr. Hui, does not have any relationship with any director, senior management or substantial or controlling shareholder of the Company.

Saved as disclosed above, the Board is not aware of any matter in relation to the appointment of Mr. Hui 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. Hui to join the Board.

By Order of the Board Lee Yiu Tung

Executive Director

Hong Kong, 20 June 2007

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As at the date of this announcement, the Board comprises of four executive directors, namely, Mr. Hui Ho Luek, Vico, Mr. Lee Yiu Tung, Ms. Siu Bessie and Ms. Wong Po Ling, Pauline, two non-executive directors namely, Mr. Fu Wing Kwok, Ewing and Mr. Ip Wing Lun and three independent non-executive directors, namely, Mr. Chang Kin Man, Mr Zhou Han Ping and Mr. Yip Man Ki.

* for identification purpose only

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

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