The board of directors of Cafe de Coral Holdings Ltd. announced that Mr. Chan Yue Kwong, Michael, the Chairman and Chief Executive Officer of the company, will resign as an authorized representative of the company subsequent to his retirement as Chief Executive Officer and remaining as the Chairman with the re-designation as a non-executive director of the company on April 1, 2012. In addition, Mr. Lo Hoi Kwong, Sunny, the Executive Director and Chief Executive Officer-designate to succeed Mr. Chan, has been appointed as an authorized representative of the company with effect from April 1, 2012.