Auto Italia Holdings Limited announced that pursuant to the Share Transfer Agreement, Dr. Richard Man Fai LEE will resign as an Executive Director, the Executive Chairman and the Chief Executive Officer of the company and as the chief executive officer and the president of China Premium Lifestyle Enterprise Inc., immediately after completion of the Share Transfer. In addition, pursuant to the Disposal Agreement, Mr. Tik Tung Wong will resign as an executive Director, the Chief Financial Officer and the company secretary of the company immediately after completion.