The board of directors (the “Board”) of Glorious Property Holdings Limited (the “Company”) is pleased to announce that with effect from 28 August 2012, Mr. Cheng Li Xiong, currently an executive director and chief executive officer of the Company, has been appointed as the executive vice chairman of the Company.

The Board would like to take this opportunity to welcome Mr. Cheng Li Xiong as the executive vice chairman of the Company.