NewOcean Energy Holdings Limited announced that Mr. Cai Xikun, an executive director, retired by rotation at the AGM held on May 21, 2012. As Mr. Cai considered this a suitable opportunity for his retirement, he did not offer himself for re-election. Mr. Cai has confirmed that he has no disagreement with the board and there is no matter in relation to his retirement that needs to be brought to the attention of the shareholders or the Stock Exchange.