The board of directors (the “Board”) of COSCO International Holdings Limited (“COSCO International” or the “Company”) announced that Mr. Liu Xianghao, Executive Director and Managing Director of the Company, resigned from his position of Managing Director due to change of work designation but remains as Executive Director of the Company. On the same day, Mr. Liu Gang was appointed as Executive Director and Managing Director of the Board, with effect from 27th September 2016.

The Board would like to take this opportunity to express its sincere gratitude to Mr. Liu Xianghao for his valuable contribution to the Company during his tenure of service as managing director of the Company, and welcome Mr. Liu Gang to join the Board.

Mr. Liu Gang, aged 56, is a vice president of COSCO (Hong Kong) Group Limited. Mr. Liu Gang was the deputy general manager of COSCO Tianjin Freight Co., the general manager of COSCO Tianjin International Freight Co., Ltd., the general manager of COSCO International Freight Co., Ltd. and the general manager of COSCO Africa (Pty) Ltd. Mr. Liu obtained a Master’s degree in Naval and Ocean Engineering from Tianjin University. He is a senior engineer and has over 30 years of experience in logistics management and shipping industry. He also has extensive experience in corporate operational management, strategic operation and management of international cargo transportation and modern logistics.

The Board believes that Mr. Liu Gang will capitalise on his expertise and extensive experience in the industry to serve the Company with his full potential, so as to drive the sustainable development of COSCO International with more impetus.

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