Hong Kong Exchanges and Clearing Limited (HKEx) announced today that its Head of Listing, Richard Williams, has notified the company of his decision not to seek renewal of his employment contract, for a further three-year term, for family reasons.  Mr Williams has agreed to an extension of his contract, which expires at the end of September 2008, for five months until 28 February 2009 and he will return to the UK thereafter.  The Board will, in the interim, search for Mr Williams’ successor.

The Board wishes to thank Mr Williams for his many contributions to HKEx and the development of the primary market in Hong Kong, including, strengthening of the Listing Division’s internal operations, the transition to the electronic disclosure regime, enhancements to the regulation of sponsors and promotion of higher corporate governance standards to enhance overall market quality.

"We regret that Richard has decided not to renew his contract but we understand and respect his decision.  We are grateful for his commitment to continue in his current role until the end of February,” said HKEx Chief Executive Paul Chow.  “The Listing Division has had many noteworthy achievements under Richard’s excellent direction, guidance and management.”