Advanced Card Systems : ACS Founder and Honorary Chairman Denny Wong Passes Away

HONG KONG, 22 Apr, 2015 -Advanced Card Systems Holdings Ltd. (SEHK: 8210) ("ACS" or the "Group") is deeply saddened to announce that its Group Founder and Honorary Chairman, Mr. Denny Wong, aged 67, passed away peacefully on 30 March 2015. Denny resigned as Chairman and Chief Executive Officer on 24 March 2015. On the same day, his spouse, Ms. Alice Tsui, was appointed as Chairman, and his two sons, Mr. Chi Ho Wong and Mr. Chi Kit Wong, were appointed as co-CEOs.

In 1995, Denny founded ACS, focusing on the smart card and reader technologies. He devoted his full efforts to ushering ACS into tremendous growth. He also expanded ACS's business, exploring areas like automatic fare collections (AFC), motivated by a desire to use technology to improve people's daily life, in a manner that promotes environmental protection as well.

Denny was an inspiring presence in ACS. He shared Confucian values with employees and helped develop their well-being under his generous mentorship. He also emphasized not only the importance of product and service quality, but also the importance of keeping promises to partners, and treating them in a respectful and reasonable way. Denny always exemplified hard work and was actively involved in the different aspects of ACS's business.

There will be a Buddhist funeral service for Denny on 22 April 2015 in Universal Funeral Parlour, Hung Hom, Hong Kong. He will be sorely missed.

Founded in 1995, ACS is one of the major suppliers of PC-linked smart card readers. ACSH's wholly-owned subsidiary, Advanced Card Systems Limited, was a winner of the Asia Pacific Product Quality Leadership Award for Smart Card Readers from Frost & Sullivan in 2009. In 2010 and 2014, ACSH was included within Forbes Asia's "Best Under a Billion", an inter-industry selection comprising the 200 top-performing publicly listed companies in Asia Pacific, with sales between US$5 million and US$1 billion. ACS develops a wide range of high quality smart card reading/writing devices, smart cards and related products and distributes these products in more than 100 countries worldwide. Visit ACS at http://www.acs.com.hk/.