China Digital Video Holdings Limited board of directors announced that: Mr. Liu Baodong has tendered his resignation as the president of the Company with effect from the date of this announcement due to his other work commitments. Mr. Liu will remain as an executive Director following his resignation as the president of the Company; and Mr. Xu Da has tendered his resignation as an executive Director with effect from the date of this announcement due to his other work commitments. The Board further announced that Mr. Pang Gang has been appointed as the president of the Company and an executive Director with effect from the date of this announcement. Mr. Pang, aged 41, has approximately 20 years of experience in the broadcasting industry. He is currently a director of China Digital Video (Beijing) Limited, a director of ZhengQi (Beijing) Video Technology Co. Ltd., the chairman and president of Xin'aote Group Co. Ltd., the vice-chairman of Beijing International Cloud Broadcasting Technology Co. Ltd. and the supervisor of Beijing United Ultra High-Definition Video Technology Collaboration Center Co. Ltd.