The board of Frasers Property (China) Ltd. announced the resignation of Mr. Leung Ka Hing, Harry as the chief executive officer of the company, the appointment of Mr. Zhang Xiaofeng as the chief executive officer of the company, the resignation of Mr. Yiu Chun Kit as the chief financial officer of the company, the appointment of Mr. Wei Chuanjun as an executive Director and the chief financial officer of the company and the appointment of Mr. Xu Jiajun as an executive Director. It is intended that Mr. Leung Ka Hing, Harry will resign as executive Director and that Mr. Cheong Fook Seng, Anthony, Mr. Hui Choon Kit, Mr. Lim Ee Seng and Mr. Tang Kok Kai, Christopher will resign as non-executive Directors, all with effect from the earliest time permitted under the Takeovers Code or such other date as approved by the Executive. Moreover, the company has been notified of the intention of Ms. Chong Siak Ching (whose alternate is Mr. Chia Nam Toon), being a non-executive Director, to resign as a Director upon the later of the day immediately after the Closing Date or the date on which the transfer by RGL, being a shareholder holding approximately 17.12% of the issued share capital of the company as at the date of this announcement, of the Riverbook Shares is duly completed pursuant to the share offer.

Mr. Wei is currently the Chief Financial Officer of Gemdale Corporation. Mr. Wei has more than 20 years of experience in property development and financial management. He joined Gemdale Corporation in 2003.

Mr. Wei is a fellow member of Association of Chartered Certified Accountants and the member of Chinese Institute of Certified Public Accountants. Mr. Xu is currently the Executive Director, Assistant President and Board Secretary of Gemdale Corporation. Mr. Xu has extensive experience in property development, corporate management and strategic planning.

Mr. Zhang is currently the Assistant President of Gemdale Corporation, Chairman and General Manager of North China region of Gemdale Corporation, and General Manager of Gemdale Commercial Real Estate Company. He has more than 15 years of experience in property development, corporate management and strategic planning. The Board announced the changes have become effective as from October 30, 2012.