The Board of Far East Horizon Limited announced that with effect from October 25, 2012, Ms. Sun Xiaoning resigned as a non-executive director and a member of the audit committee of the company and Mr. John Law is appointed as a non-executive director and a member of the audit committee of the company. Mr. Law has nearly 30 years' experience in finance, and holds a master degree in business administration (finance) from Indiana University in USA. Mr. Law worked for J.P. Morgan & Co.

as training head of Asia Pacific Region from June 1995 to October 1997, as risk manager for Greater China Region from November 1997 to June 1999 and as senior credit officer for Asia Pacific Region, Euroclear from July 1999 to July 2000 respectively. Prior to joining the company, he worked for International Finance Corporation from March 2004 to September 2012 as the principal banking specialist for global financial markets. Mr. Law was also a non-executive director of China Industrial Bank Company Limited from October 2007 to October 2010.