The board of directors of Shirble Department Store Holdings (China) Limited announced that Mr. LI Kuansen tendered his resignation as an executive Director and the chief executive officer of the Group on September 6, 2013 with immediate effect. Mr. YANG Ti Wei has been appointed as an executive Director and the chief executive officer of the Group effective from September 7, 2013. In addition, Mr. LAM Man Tin has been appointed as the CEO Strategist effective from September 9, 2013.

Mr. LI confirmed that his resignation is primarily due to his personal health issues and he has no disagreement with the Board and there is no matter relating to his resignation as an executive Director and the chief executive officer of the Group that needs to be brought to the attention of the Stock Exchange and the shareholders of the company. Mr. YANG is the executive vice president of the Group since 2009. Mr. YANG joined the Group in June 2009 and is principally responsible for the overall strategic development, operational and logistics management, information technology infrastructure planning and coordination of marketing and promotional activities of the Group.

Mr. YANG is a Director of Shirble Department Store (Shenzhen), and a supervisor of Shirble Chain Store, Changsha Shirble Department Store Limited Liability Company, Shirble Mingxing Trading, Shirble Xiangzhixuan, Shirble Ruizhuo, Shirble Yuzhixiang and Shirble Apparel respectively. Mr. LAM served as the managing director of Aeon Stores (Hong Kong) Co. Limited from May 2006 to May 2012.

Mr. LAM joined Aeon Stores Co. Ltd. in 1992 and has over 20 years of experience in retail and service industries. Mr. LAM was a director of Aeon Stores Co.

Ltd. and an executive director of Aeon Stores (Hong Kong) Co. Limited from May 1999 to May 2012. Mr. LAM will be responsible for assisting the chief executive officer of the Group to establish and execute the overall corporate strategies of the Group, covering areas including but not limited to operations, corporate development, human resources, administration and finance.