Dr. Cha Chi Ming, Founder and Non-Executive Chairman of the Cha Textiles Ltd., Passed Away

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'I<JJ[)<C<8J<[ [ 28 M arch 2007 [ [ [ Dr. Cha Chi Ming, Founder and Non-Executive Chairman of The Cha Textiles Ltd., Passed Away The Cha Textiles Ltd. (the “Group”) announces with deep sorrow that Dr. Cha Chi Ming (Dr.Cha), the Chairman of Cha Textiles Group, passed away peacefully today (28 March 2007) at 7am. Dr. Cha engaged in the textile industry soon after his arrival to Hong Kong from mainland China in the late 1940s. He established China Dyeing W orks Limited in 1949 and it became Asia’s most advanced dyeing factory in the 1990s. In 1977, Dr. Cha started his real estate business in Hong Kong and subsequently founded HKR International Limited which was publicly-listed in Hong Kong in 1989. Dr. Cha was an innovative industrialist and a successful entrepreneur. He set up various textile factories all over W est Africa, USA and Britain back to the 1960s. Dr. Cha made remarkable achievements not only in the textile industry but also in real estate development. The Group’s flagship project, Discovery Bay in Hong Kong is internationally renowned with its pioneering and unique design and the township community since the 1970s. Dr. Cha has an immense interest in supporting the textile industry and technology development in China. It was evidenced by the establishments of the Sang Ma Trust Fund in 1992 and the Qiu Shi Science and Technologies Foundation in 1994 to offer recognition, support and research funding for science and technology development in China. The Qiu Shi Science and Technologies Foundation had already awarded over 800 outstanding scientists and researchers in the first 10 years since its inception. In 2003, the Cha Group was honoured as the first Hong Kong enterprise to be the “Cooperative Partner of China Space” by the China Space Foundation. Dr. Cha was a member of Basic Law Drafting Committee and the Preparatory Committee of the Hong Kong Special Administrative Region, a member of the Standing Committee of the National People's Congress of the People's Republic of China, as well as a Hong Kong Affairs advisor. He was amongst the first batch of awardees to receive the Grand Bauhinia Medal in 1997 from the Hong Kong SAR Government. Dr. Cha made tremendous and significant contributions to the Group. His absence is a great loss to the Group and he will be respectfully missed by the members of the Group. [~ END ~ .

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