Texhong Textile appoints Co-Chief Executive Officer and Chief Operating Officer

Amid Zhu Yongxiang and Tang Daoping’s assignment to new roles, Hong Tianzhu remains the Chairman of the Company and the Chief Executive Officer of the Company.

The board (‘‘Board’’) of directors (‘‘Directors’’) of Texhong Textile Group Limited (the ‘‘Company’’, together with its subsidiaries, the ‘‘Group’’) is pleased to announce the appointment of Mr. Zhu Yongxiang as the Co-Chief Executive Officer of the Company.

Mr. Zhu Yongxiang, an executive Director, has been appointed to the position with effect from 10 October 2011. As the Co-Chief Executive Officer of the Company, Mr. Zhu will be responsible for overseeing the management of the business of the Group. The group also named Mr. Tang Daoping, an executive Director, as the Chief Operating Officer of the Company with effect from 10 October 2011. As the Chief Operating Officer of the Company, Mr. Tang will be responsible for supervising the daily operations of the Group.

Mr. Hong Tianzhu remains as an executive Director, the Chairman of the Company and the Chief Executive Officer of the Company.