Following these changes in circumstances, East 33 announces the resignation of Mr. John Maher as Chairman and Mr. Geoff Erby and Mr. Greg Daniels as Non-Executive Directors. East 33 would like to thank these gentlemen for their contribution to East 33. East 33 will work expeditiously on the appointments of new independent directors.

Mr. James Garton will step in as acting Chairman until the appointment of a new Chairman.