09:30 SKYNET(INTL GP)<00577> & PAUL Y-ITC<00498> - J. Ann. (4) Mr. Blake is currently an independent non-executive director of Pacific Century Premium Developments Limited. He was a senior director with the Kowloon-Canton Railway Corporation ("KCRC") until January 2004, and was responsible for supervising KCRC's HK$75 billion railway expansion programs. Before joining KCRC in 1997, he was Secretary for Works in the Hong Kong Government between 1991 and 1995, overseeing the implementation of the Airport Core Programme and the harbour wing extension of the Hong Kong Conference and Exhibition Centre. Before that, he served with Paul Y. Construction Company, Limited and was engaged in civil engineering and building contracting from 1972 onwards. Mr. Blake began his career in the United Kingdom as a civil/structural engineer with Boulton and Paul, and following service with the Corps. of Royal Engineers joined Scott Wilson Kirkpatrick & Partners to return to Hong Kong in 1965. Save as disclosed above, Mr. Blake did not hold any other directorship in any listed public companies in the last three years. Other than disclosed in this announcement, he does not hold any positions with Paul Y. Engineering or any of its subsidiaries. Mr. Blake does not have interest in any shares or underlying shares of Paul Y. Engineering required to be disclosed pursuant to Part XV of the SFO nor does he have any relationship with any directors, senior management or substantial shareholder or controlling shareholder of Paul Y. Engineering. He has not entered into any service contract with Paul Y. Engineering and its subsidiaries. There is no agreement between Paul Y. Engineering and its subsidiaries and Mr. Blake in respect of proposed length of service or prior notice to be given by either party for termination of service with regard to his engagement as an independent non-executive director of Paul Y. Engineering. Mr. Blake will receive a director's fee of HK$600,000 per annum, which is determined with reference to the prevailing market conditions. Mr. Lau Ko Yuen, Tom, aged 53, has over 32 years' international corporate management experience in the construction industry. Mr. Lau is the Deputy Chairman of ITC Corporation Limited (stock code 372) and Paul Y, and Downer EDI Limited ("Downer"), a company whose shares are listed on the Australian Stock Exchange and the New Zealand Stock Exchange. He was also a director of New World CyberBase Limited (stock code: 276) and an alternate director of China Strategic Holdings Limited (stock code: 235), companies whose shares are listed on the Stock Exchange, in the last three years. Other than disclosed above, he does not hold any positions with Paul Y. Engineering or any of its subsidiaries. Mr. Lau does not have interest in any shares or underlying shares of Paul Y. Engineering required to be disclosed pursuant to pursuant to Part XV of the SFO nor does he have any relationship with any directors, senior management or substantial shareholder or controlling shareholder of Paul Y. Engineering. He has not entered into any service contract with Paul Y. Engineering and its subsidiaries and is subject to retirement by rotations and re-election in accordance with the bye-laws of Paul Y. Engineering which states that one-third of the directors of Paul Y. Engineering (excluding the Chairman and Managing Director) shall retire from office by rotation and be eligible for re-election at each annual general meeting of Paul Y. Engineering. There is no agreement between Paul Y. Engineering and its subsidiaries and Mr. Lau in respect of any proposed length of service or prior notice to be given by either party for termination of service with regard to his engagement as a non-executive director of Paul Y. Engineering. No remuneration will be received by Mr. Lau. Mr. Wong Wing Hoo, Billy, aged 47, has over 24 years' experience in the construction field. He holds a bachelor's degree in civil engineering and is a visiting professor of Central South University in the PRC. Mr. Wong is a registered professional engineer and a fellow member of the Hong Kong Institution of Engineers, the Hong Kong Institution of Highways and Transportation and the Institution of Highways and Transportation. He is also the president of the Hong Kong Construction Association and a member of the Provisional Construction Industry Coordination Board. Mr. Wong was the Deputy Managing Director of Paul Y. He was also an alternate director of Downer in the last three years. Mr. Wong is a director of certain subsidiaries of Paul Y. Engineering.