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HKR INTERNATIONAL LIMITED

香港興業國際 集團有限公司 *

(Incorporated in the Cayman Islands with limited liability)

(Stock code: 00480)

RESIGNATION OF INDEPENDENT NON-EXECUTIVE DIRECTOR AND MEMBER OF AUDIT COMMITTEE AND NOMINATION COMMITTEE AND NON-COMPLIANCE WITH RULES 3.10A AND 3.21

The board of directors (the "Board") of HKR International Limited (the "Company") announces that Dr CHEUNG Kin Tung Marvin ("Dr CHEUNG") has tendered his resignation as an independent non-executive director and a member of each of the audit committee and nomination committee of the Company with effect from 19 August 2014 due to his own reason.
Dr CHEUNG has confirmed to the Board that he has no disagreement with the Board and there is no matter in relation to his resignation that needs to be brought to the attention of the shareholders of the Company.
The Board noted that following the resignation of Dr CHEUNG, the number of the independent non-executive directors and the number of members of the audit committee of the Company fall below the minimum number required under rules 3.10A and 3.21 of the Rules Governing the Listing of Securities on The Stock Exchange of Hong Kong Company Limited (the "Listing Rules") respectively and the number of members of the nomination committee of the Company falls below the minimum number set out in the terms of reference of the committee.
The Company is endeavoring to identify a suitable candidate to fill up the abovementioned vacancies as soon as practicable and within three months as required under rules 3.11 and 3.23 of the Listing Rules. The Company will make further announcement(s) as and when appropriate.
The Board would like express its utmost appreciation to Dr CHEUNG for his professional accounting and audit expertise and skill, in-depth experience, leadership and guidance in shaping the Board's oversight of the Company's performance and compliance with laws, rules and regulations and enhancing good corporate governance. The Board is thankful for his valuable contribution to the Company during his tenure of services and will miss him very much.
By order of the Board HKR International Limited MAK Sau Ching

Company Secretary

Hong Kong, 20 August 2014

As at the date of this announcement, the board of directors of the Company comprises:

Chairman Non-executive Directors

Mr CHA Mou Sing Payson The Honourable Ronald Joseph ARCULLI Mr CHA Mou Daid Johnson

Deputy Chairman & Managing Director Ms WONG CHA May Lung Madeline

Mr CHA Mou Zing Victor

Independent Non-executive Directors Executive Directors Dr CHENG Kar Shun Henry

Mr CHUNG Sam Tin Abraham

Mr TANG Moon Wah

Mr CHEUNG Wing Lam Linus

Ms HO Pak Ching Loretta

* Registered under the predecessor of the Companies Ordinance, Chapter 622 of the laws of Hong Kong

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