The board of directors of Silver Grant International Industries Ltd. announced that Mr. Yang Zhao tendered his resignation from his positions as vice chairman and non-executive director of the company and MR. Li Xianli tendered his resignation from his positions as executive director of the company with effect from February 15, 2012 due to their other business engagements and commitments. The board announced that Mr. Chen Qiming has been appointed as vice chairman and non-executive director of the company and MR. Wen Jingsong has been appointed as executive director of the company with effect from February 15, 2012.