The board of directors of Ming Fai International Holdings Limited announced that regarding the strategic cooperation agreement and the placing agreement with American Hotel, the company shall appoint one person nominated by American Hotel as non-executive director to the board following completion of the placing of shares of the company there under. The board announced that Mr. Lawrence Joseph MORSE who has been nominated by American Hotel, has been appointed as a non-executive director with effect from December 4, 2012. Mr. MORSE, aged 63, has over 30 years of experience in management.

Mr. MORSE is currently a president and chief executive officer of a global company supplying hospitality products and services. Mr. MORSE holds a master degree of business administration in finance and marketing from Boston College. Mr. MORSE has entered into a letter of appointment with the company for a term of one year commencing from December 202, which may be terminated by either party giving written notice in accordance with the terms of the appointment letter.