As part of the succession plan of Hong Kong Exchanges and Clearing Limited (HKEx), the following senior executives will be assigned new responsibilities to further enrich their exposures and management experience:

• Derek Tam, currently senior vice president of Cash Market, will be appointed as senior vice president of Participant Admission and Surveillance. Mr Tam will continue to report to Gerald Greiner, deputy chief operating officer and head of Exchange.
  
  
• Roger Lee, currently head of Information Services, will be appointed as senior vice president of Cash Market, and will also report to Gerald Greiner.
  
  
• Bryan Chan, currently deputy head of Clearing, will be appointed as head of Information Services, and will report to chief operating officer Patrick Conroy.

The revised organisation structure is attached. The appointments will take effect on Monday, 1 August 2005.