The board of directors (the “Board”) of COSCO International Holdings Limited (“COSCO International” or the “Company”) announced that Mr. Sun Jiakang, Executive Director and the Chairman of the Board of the Company, resigned from his position due to change of work designation and Mr. Xu Zhengjun resigned as Executive Director and Managing Director of the Board due to his retirement. On the same day, Mr. Ye Weilong was appointed as Executive Director and Chairman of the Board and Mr. Liu Xianghao was appointed as Executive Director and Managing Director of the Board, with effect from 18th March 2016.

The Board would like to take this opportunity to express its sincere gratitude to Mr. Sun Jiakang and Mr. Xu Zhengjun for their valuable contributions to the Company during their services and welcome Mr. Ye Weilong and Liu Xianghao to join the Board.

Mr. Ye Weilong, aged 53, was the chairman of the Board of the Company for the period from 2012 to 2013 and was familiar with COSCO International. He is currently the executive vice president of China COSCO Shipping Corporation Limited and in charge of strategic planning, corporate management, onshore industries and regional companies, etc. Chairman Ye joined COSCO Group for nearly 30 years. He previously was the deputy general manager of China Ocean Shipping (Group) Company and served in several managerial positions of subsidiaries of COSCO Group. Mr. Ye is a senior economist and has extensive experience in corporate operation management, international cargo transportation as well as the operation and management of modern logistics strategy.

Mr. Liu Xianghao, aged 43, has joined COSCO Group for 20 years. He is currently the vice president and chief legal consultant of COSCO (Hong Kong) Group Limited. Mr. Liu served as several positions including the director of Office of Board of Directors/General Manager’s Office of China Ocean Shipping (Group) Company and China COSCO Holdings Company Limited, etc. Mr. Liu is familiar with the operation of listed companies and has extensive experience in auditing and corporate management.

The Board believes that COSCO International will go for a faster and better development under the leadership of Mr. Ye Weilong and Mr. Liu Xianghao.

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