The board of directors of Frasers Property (China) Ltd. announced that Mr. Kwee Chong Kok, Michael, Mr. Chong Kok Kong and Ms. Wong Siu Ming, Helen have resigned as independent non-executive directors of the company with effect from November 30, 2012. As a consequence, Mr. Kwee Chong Kok, Michael ceased to be the chairman of the Board and a member of the Audit Committee of the Board; Mr. Chong Kok Kong ceased to be a member of the Audit Committee and the Nomination and Remuneration Committee of the Board; and Ms. Wong Siu Ming, Helen ceased to be the chairman of the Audit Committee of the Board, in each case with effect from November 30, 2012. The Board announced that each of Mr. Chiang Sheung Yee, Anthony and Mr. Hu Chunyuan has been appointed as an independent non-executive director of the company with effect from November 30, 2012.

Mr. Hu, aged 43, is currently the vice-president and executive partner of BDO China Shu Lun Pan Certified Public Accountants LLP and a fellow certified public accountant (as approved by the Chinese Institute of Certified Public Accountants). The Board announced that, with effect from November 30, 2012, Mr. Huang Juncan has been appointed as the chairman of the Board and Mr. Xu Jiajun has been appointed as an authorized representative of the company. The Board announced that, with effect from November 30, 2012, the nomination and remuneration committee of the board has been split into the nomination committee and the remuneration committee, and announced that the new composition of each of the Board committees as follows: The Audit Committee: Chairman: Mr. Hu Chunyuan, members: Mr. Hui Chiu Chung, J.P. and Mr. Chiang Sheung Yee, Anthony.

The Nomination Committee: Chairman: Mr. Huang Juncan; Members: Mr. Hui Chiu Chung, J.P. and Mr. Chiang Sheung Yee, Anthony. The Remuneration Committee: Chairman: Mr. Hui Chiu Chung, J.P., members: Mr. Hu Chunyuan and Mr. Xu Jiajun.