The Board of China Outfitters Holdings Limited announced that Mr. LI Guoqiang has resigned as the non-executive director of the Company with effect from January 10, 2014 due to his adjustment of work allocation. Mr. LI has confirmed that he has no disagreement with the Board and there are no matters relating to his resignation that need to be brought to the attention of the shareholders of the Company. The Board of the Company also announced that Mr. LIN Yang has been appointed as a non-executive director of the Company with effect from January 10, 2014.

Mr. LIN, aged 39, is an Investment Director of China Everbright Investment Management Limited (CEIM), focusing on private equity transactions in the Greater China region. He is also a non-executive director of SPT Energy Group Inc. Prior to joining CEIM, Mr. LIN worked at the research department of China Everbright Limited.