Directors - Independent Non-executive Directors

LAI Ming, Joseph, aged 65, was appointed as an independent non-executive Director of the Company in August 2004. Mr. Lai is a fellow member of the Hong Kong Institute of Certified Public Accountants ("HKICPA"), CPA Australia and the Chartered Institute of Management Accountants ("CIMA") and the Hong Kong Institute of Directors. He co-founded the HK Centre of CIMA (then known as the Institute of Cost and Management Accountants) in 1973 and was the president in 1974/75 and 1979/80. He was the president of the HKICPA in 1986. He is also an adviser to the Corporate Governance Committee of CPA Australia Hong Kong China Division. Until retirement in 2004, Mr. Lai served several Hong Kong listed companies in key management positions with particular emphasis on corporate finance and organization and management information. He is an independent non-executive director of Jolimark Holdings Limited, Shinhint Acoustic Link Holdings Limited, Guangzhou R&F Properties Co., Limited, Country Garden Holdings Limited, Chen's Holdings Limited and Sheng Fung Company, Limited. Mr. Lai is also a director of Hong Kong University of Science and Technology R and D Corporation Limited.

Dr. HUI Ho Ming Herbert, J.P. aged 51, was appointed as an independent non-executive Director of the Company in August 2004. He is the executive director of Hong Kong Resources Holdings Company Limited and vice chairman of the First Vanguard Private Equity Ltd. He has extensive commercial and regulatory experience and serves on the boards of a number of public and private companies, including Citic 21 Company Limited and Ocean Grand Holding Company Limited (Provisional liquidators appointed), both of which are listed on the Hong Kong stock exchange. He was appointed a Justice of the Peace in Hong Kong in 2004.

CHAU Ka Wah, Arthur, aged 64, was appointed as an independent non-executive Director of the Company in August 2004. Mr. Chau has substantial knowledge and experience in commercial and corporate industry. Prior to joining the Company in August 2004, he was the managing director of Otis Elevator Company (Hong Kong) Ltd. and the regional director of Otis Elevator International, Inc. in China. He graduated with a bachelor's degree from The University of Hong Kong and a master's degree in business administration from Chinese University of Hong Kong.