Starrex International Ltd. appointed Matthew Hill as the Company's new President, Chief Executive Officer and Chairman of the Board. He has also been appointed as a member of the Audit Committee. Mr. Hill, who previously served as the Company's Senior Vice President, replaces Philip Garrett Clayton who resigned those offices in order to devote more of his time to his other business interests.

Mr. Clayton will continue to be involved in the affairs of the Company as one of its directors.