MTR : Appointment of New Member of the Executive Directorate

Hong Kong Exchanges and Clearing Limited and The Stock Exchange of Hong Kong Limited take no responsibility for the contents of this announcement, make no representation as to its accuracy or completeness and expressly disclaim any liability whatsoever for any loss howsoever arising from or in reliance upon the whole or any part of the contents of this announcement.

香港鐵路有限公司

(the 'Company')

(Incorporated in Hong Kong with limited liability)

(Stock Code: 66)

The Company is pleased to announce that, with effect from 28 October 2014, Dr. Philco Wong Nai-keung, currently General Manager - Shatin to Central Link, will be appointed as the new Projects Director and a Member of the Executive Directorate of the Company. To facilitate a smooth transition, Dr. Wong will be appointed Projects Director - Designate, of the Company with effect from 18 August 2014.
On 28 April 2014, the Company announced that Mr. Chew Tai Chong, currently the Company's Projects Director, would retire from that position and as a Member of the Executive Directorate, with effect from 28 October 2014.
The Company is pleased to announce that, with effect from 28 October 2014, Dr. Philco Wong Nai-keung, currently General Manager - Shatin to Central Link, will be appointed as the new Projects Director and a Member of the Executive Directorate of the Company succeeding to Mr. Chew Tai Chong. To facilitate a smooth transition, Dr. Wong will be appointed Projects Director - Designate, of the Company with effect from 18 August 2014.
Dr. Wong (aged 59) has entered into a service agreement with the Company for the position of Projects Director for three years commencing on 28 October
2014. The amount of his emoluments (which excludes discretionary variable remuneration) specified in his service agreement is HK$4,920,000 per annum. In
addition, Dr. Wong will be entitled to discretionary variable remuneration related to performance. He will also be entitled to participate in the Company's share incentive scheme. Dr. Wong's emoluments have been determined by the Company's Remuneration Committee, with reference to his responsibilities, experience and qualifications.
Dr. Wong holds a Bachelor of Science degree in Civil Engineering from the University of Manitoba, Canada and a Master of Engineering degree in Construction Management and Engineering from University of Toronto, Canada.

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He was awarded a Doctor of Business Administration degree by Curtin University, Australia. Dr. Wong is a fellow member of The Hong Kong Institution of Engineers ('HKIE') and the Institution of Civil Engineers in the United Kingdom. Dr. Wong has over 35 years of experience in business management, implementation and delivery of large-scale infrastructure projects in Hong Kong, the Mainland of China and overseas. Since joining the Company in November
2011, Dr. Wong has successfully led his team in taking the Shatin to Central Link
project forward through planning, contracts procurement to construction. His dedication and leadership is well-respected by his team members and colleagues. Dr. Wong currently is the chairman of Engineering Discipline, Construction Collaborative Degree Programmes, Advisory Committee of Vocational Training Council, a member of Occupational Deafness Compensation Board, a member of the Committee on Procurement and Subcontracting of Construction Industry Council and a member of Engineers Registration Board of HKIE. Dr. Wong is also an Adjunct Professor of School of Civil Engineering, Tsinghua University, Beijing and an External Academic Advisor of City University of Hong Kong for the Bachelor of Engineering programme in Building Engineering (Construction Engineering and Management). He is also the chairman of the Benevolent Fund Committee of The Lighthouse Club.
As at the date of this announcement, Dr. Wong has not held any directorship in the last three years in any public companies the securities of which are listed on any securities market in Hong Kong or overseas. Dr. Wong is not related to any Directors, senior management or substantial or controlling shareholder of the Company.
As at the date of this announcement, Dr. Wong has an option to subscribe for
187,500 shares of the Company but otherwise is not interested in any shares of the Company within the meaning of Part XV of the Securities and Futures Ordinance (Chapter 571 of the Laws of Hong Kong) (the 'SFO') as recorded in the register required to be kept under section 352 of the SFO or as otherwise notified to the Company and The Stock Exchange of Hong Kong Limited pursuant to the Model Code for Securities Transactions by Directors of Listed Issuers.
In respect of Dr. Wong's appointment, there is no other information which is discloseable pursuant to any of the requirements of the provisions of Rules
13.51(2)(h) to (v) of the Rules Governing the Listing of Securities on The Stock Exchange of Hong Kong Limited, and there is no other matter relating to his appointment, other than as stated above, that needs to be brought to the attention of the holders of securities of the Company.
By Order of the Board Gillian Elizabeth Meller Company Secretary
Hong Kong, 15 August 2014

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As at the date of this announcement:

Members of the Board: Dr. Raymond Ch'ien Kuo-fung (Chairman)**, Jay Herbert Walder (Chief Executive Officer), Pamela Chan Wong Shui*, Dr. Dorothy Chan Yuen Tak-fai*, Vincent Cheng Hoi-chuen*, Christine Fang Meng-sang*, Edward Ho Sing-tin*, Professor Frederick Ma Si-hang*, Alasdair George Morrison*, Ng Leung-sing*, Abraham Shek Lai-him*, T. Brian Stevenson*, Professor Chan Ka-keung, Ceajer (Secretary for Financial Services and the Treasury)**, Secretary for Transport and Housing (Professor Anthony Cheung Bing-leung)** and Commissioner for Transport (Ingrid Yeung Ho Poi-yan)**

Members of the Executive Directorate: Jay Herbert Walder, Lincoln Leong Kwok-kuen, Morris Cheung Siu-wa, Chew Tai Chong, Jacob Kam Chak-pui, Stephen Law Cheuk-kin, Gillian Elizabeth Meller, David Tang Chi-fai and Jeny Yeung Mei-chun

* independent non-executive Director

** non-executive Director

This announcement is made in English and Chinese. In case of any inconsistency, the English version shall prevail.

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