China Fortune Holdings Limited announced that Mr. Chang Wing Seng, Victor, appointed by the Board on 26 October 1999, has not been re-elected as an independent non-executive Director of the Company at the AGM and retired from directorship pursuant to Bye-Laws of the Company after the conclusion of the AGM. Since Mr. Chang has not been re-elected as Director and all his membership in the relevant committees of the Company immediately ceased after the closure of the AGM.