The Board of Directors of China Agri-Industries Holdings Limited announced that Mr. YUE Guojun has tendered his resignation as an executive director with effect from 20 April 2016 due to other business engagements. Upon his resignation, he ceased to be the Managing Director and the chairman of the Executive Committee of the company. The Board announced that Mr. GU Lifeng has been appointed as an executive director with effect from 20 April 2016.

Following his appointment, Mr. GU will become the Deputy Managing Director and the chairman of the Executive Committee, taking charge of the Company's overall management. Mr. GU Lifeng, aged 48, has been a vice president of the Company since August 2014 and is the general manager of the oilseeds processing division of the Company in charge of the oilseeds processing business. Mr. GU joined COFCO Corporation and/or its subsidiaries in July 1989 and held various positions at COFCO Group, including COFCO Group's grains division and in the export department of China Corn Exports Associated Co.

Besides, he was the general manager of the corn division of COFCO Group. He was the deputy general manager of COFCO Grain & Oil Co. Ltd. and the general manager of its corn division.

He was also the deputy general manager of COFCO Trading Co. Ltd. and the general manager of its corn division. He has been a senior industry executive of COFCO Group since September 2014.