Directorate Change

RNS Number:1174P
Guangdong Development Fund Ld
28 August 2003

Guangdong Development Fund Limited
Board Changes
28 August 2003



The Board of the Guangdong Development Fund Limited ("the Fund") is pleased to
announce the appointment of Mr Zhang Zhuoming, Mr Mohammed Haroon, and Ms Ng So
Kau as directors of the Fund with retrospective effect from 20 August 2003.  Mr
Zhang has been appointed as vice-chairman of the Fund with retrospective effect
from 20 August 2003.



Mr Faisal Hamad Al-Ayyar has resigned as a director of the Fund with effect from
1 August 2003.  Mr Chan Yu Lam has ceased to act as a director of the Fund with
effect from 28 August 2003.  The directors of the Fund thank Mr Al-Ayyar and Mr
Chan for their contributions to the Fund during their directorships.



Mr Zhang is a director and Deputy General Manager of Guangdong Assets Management
Limited.  Previously, he was the Deputy Factory Director of Guangdong Passenger
Vehicle Factory, Deputy General Manager of Guangdong Chemical Engineering
Company Limited and General Manager of Jing Mei Travel and Trading Company
Limited.



Mr Haroon is currently General Manager and Deputy Chief Executive Officer of
United Gulf Bank, Bahrain, where he has worked for 22 years.  Previously, he
worked with the National Bank of Pakistan and the Investment Corporation of
Pakistan.  Mr Haroon is a director of the Institute of Overseas Pakistanis, the
Overseas Pakistanis Educational Network, the Pakistan Institutue of Legislative
Development and Transparency and Cosmo Developments Limited.  Mr Haroon has been
attending board meetings of the Fund as an alternate director for Mr Al-Ayyar
for a number of years.



Ms Ng is currently the General Manager of the Financial Department of Guangdong
Assets Management Limited, where she has worked since 2000.  She is a director
of Guangdong Materials Company Limited.  Previously, she was a director of
Guangdong Development (Holdings) Limited, Guangdong Telecommunications Company,
Limited, Walsall Company Limited and Hua Yue Trading GMBH Import/Export KOLN.




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