The Board of directors of Overseas Chinese Town Asia Holdings Limited announced that Mr. Yang Jie has been appointed as the executive director of the company with effect from April 11, 2012 after the closing of the 2011 annual general meeting of the company held on the same day. Mr. Yang will enter into a director's service agreement with the company as the Executive Director for a term commencing from April 2012 until the closing of the 2012 annual general meeting of the company to be held in 2013, which may be terminated by either the company or Mr. Yang by giving one month's written notice or otherwise in accordance with the terms of the director's service agreement.