L.C. Development appoints Lawrence Ee Hock Leong as Director

The Company will undoubtedly benefit from Mr Ee's extensive knowledge of the corporate governance framework and practices of listed companies in Singapore.

The Board of L.C.Development announced the appointment of Lawrence Ee Hock Leong as Director.

Mr. Ee, 70, is a chartered accountant by training and was a senior partner of Ernst & Young before his retirement in 1997. Mr Ee has been a Non-Executive Director of Lum Chang Holdings Limited (“LCH”) since November 2001 and was appointed Lead Independent Director in July 2006. He serves as Chairman of the Audit Committee and is a member of the Nominating and Remuneration Committees of LCH. Both the Board and the Nominating Committee of the Company are of the view that with his qualification, credentials and in-depth experience, Mr Ee will contribute invaluably in the areas of finance and internal audit. Given his many years of experience as an Independent Director heading and sitting on the various Board committees of LCH, the Company will undoubtedly benefit from his extensive knowledge of the corporate governance framework and practices of listed companies in Singapore, and from his guidance and supervision in fostering effective corporate governance, according to an L.C. Development report.

At present he is a Non-Executive Director, Chairman of Audit Committee, Member of Remuneration Committee -of Lum Chang Holdings Limited from 30 November 2001 to present. He is also a Member of Nominating Committee from 28 February 2006 to present date and Lead Independent Director from 19 July 2006 to present date.