The Hong Kong Futures Exchange (HKFE) announced today that Mr. Alfred Fung Kwok Chor and Mr. Robert Sze Tsai To have been appointed to its Board as Independent Directors.

The appointments increase the number of Independent Directors from four to six out of a total of 15 Directors.

"The addition of Independent Directors reflects the Exchange's commitment to openness and transparency," Chairman Dr. Geoffrey Yeh said. "These two gentlemen have a wide range of experience and we are very pleased to have them join the Board."

Mr. Fung, a Hong Kong native, studied law in London. His experience includes work in North America as a consultant to law firms in the US and Canada. He is now a Barrister-at-Law and Head of his Chambers in Hong Kong. Mr. Fung is a Member of the Hong Kong Bar; the UK Bar; the British Columbia Bar and Law Society; and the Singapore Law Society.

Mr. Sze was born in Shanghai. He joined Price Waterhouse London in 1967 as a chartered accountant and was transferred to Hong Kong in 1971. He became a partner in 1974 and remained with the firm until he reached its mandatory retirement age in 1996. Mr. Sze now serves as a Non-executive