Munich, 30 October 2013. At today's meeting, the Supervisory Board of KINGHERO AG has decided to dismiss the Chairman of the Management Board, Mr. Zhang Yu, with immediate effect.

Therefore, Dr. Harald Zender and Mrs He Xiuming will be representing KINGHERO AG as directors. The reasons for the dismissal are amongst others, the delay of the audit of the individual and group financial statement 2012 as well as a lack of evidence of the financial and liquidity situation of the individual entities in China.

The auditor of KINGHERO AG, Warth & Klein Grant Thornton AG Wirtschaftspru

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