New Century Real Estate Investment Trust announced that Professor Dai Bin has resigned of his own accord as an independent non-executive director of the REIT Manager to focus on his other business and work commitments with effect from January 30, 2014. Accordingly, Professor Dai has ceased to be a member of the audit committee and the nomination committee of the REIT Manager with effect from the same date; and Professor He Jianmin has been appointed as an independent non-executive director of the REIT manager and a member of the audit committee and a member of the nomination committee of the REIT Manager with effect from January 30, 2014. Professor He has more than 24 years' experience in the fields of hospitality and tourism.

He was appointed by the State Council Academic Degrees Committee as a member of the Consultative Committee for Master Education for National Tourism Management and is an expert consultant of the United Nations World Tourism Organisation. Professor He has been the leading researcher in many governmental research projects, including the Aim and Path in the Transformation and Development of the Economics of Shanghai Tourism (2011) and the Proposals on the Development and Policies of National Tourism in light of the Shanghai Pilot Free Trade Zone(2014)).