The board of directors of Worldgate Global Logistics Ltd. announced that shareholders of the Company and potential investors that the Company intended to establish a new business segment which is planned to engage in trading of used mobile phones in Hong Kong, with a view to enhancing the value of the shares of the Company and will therefore be in the interest of the Company and the Shareholders as a whole. The Board is of the view that the New Business will diversify the income stream of the Company and broaden its revenue base. It is expected that the New Business may also improve the capital usage efficiency of the Company and generate additional investment returns on the idle funds of the Company. The capital required for the New Business will be financed by the internal resources of the Group.

Ms. Tsui Ka Mei, an executive Director, will be responsible for the strategic development and planning of the New Business as well as overseeing its overall business and operations.