Hong Kong Exchange and Clearing Limited and the Stock Exchange of Hong Kong Limited take no responsibility for the contents of this announcement, make no representation as to its accuracy or completeness and expressly disclaim any liability whatsoever for any loss howsoever arising from or in reliance upon the whole or any part of the contents of this announcement.

(a joint stock limited company incorporated in the People's Republic of China with limited liability)

(Stock code: 2777) CHANGE OF CHAIRMAN OF THE REMUNERATION COMMITTEE AND ESTABLISHMENT OF NOMINATION COMMITTEE

The board (the "Board") of directors (the "Director") of Guangzhou R&F Properties Co., Ltd. (the "Company") announces the following changes with effect from 20 March 2012 for the purpose of complying with the forthcoming amendments to the Rules Governing the Listing of Securities on The Stock Exchange of Hong Kong Limited which will become effective on 1 April 2012:
(i) Mr. Dai Feng, an existing committee member and an independent non-executive Director, has been appointed as the chairman of the remuneration committee of the Company (the "Remuneration Committee") in place of Mr. Li Sze Lim, an executive Director, with effect from 20 March 2012. Mr. Li Sze Lim remains as a member of the Remuneration Committee; and
(ii) a nomination committee of the Company (the "Nomination Committee") comprising Mr. Li Sze Lim as the chairman and member, and Mr. Dai Feng and Mr. Lai Ming, Joseph as members has been established by the Board on 20 March 2012 with written terms of reference with effect from 20 March 2012.
By order of the Board

Guangzhou R&F Properties Co., Ltd. Chow Oi Wah, Fergus

Company Secretary
Hong Kong, 20 March 2012

As at the date of this announcement, the executive directors of the Company are Mr. Li Sze Lim, Mr. Zhang Li, Mr. Zhou Yaonan and Mr. Lu Jing; the non-executive directors are Ms. Zhang Lin and Ms. Li Helen; and the independent non-executive directors are Mr. Huang Kaiwen, Mr. Dai Feng and Mr. Lai Ming, Joseph.

* For identification purpose only

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This press release was issued by Guangzhou R&F Properties Co. Ltd. and was initially posted at http://www.rfchina.com/upload/189/2012320181940459.pdf . It was distributed, unedited and unaltered, by noodls on 2012-03-20 11:43:33 AM. The issuer is solely responsible for the accuracy of the information contained therein.