The Hong Kong Association of Online Brokers (“HKAOB”) is pleased to announce the election of South China Securities Limited as its new Chairman.  The Chairmanship is for a period of one year until the next election in September 2003.

Stewart Shing, representing South China Securities Limited, said after his Company being elected as Chairman by the Committee Members of HKAOB that he would work closely with all the Members to fulfill the objectives of the Association throughout its reign of Chairmanship.

South China Securities Limited succeeds the first and founding Chairman of the Association, Tai Fook Securities Company Limited.

Other elected office bearers of HKAOB include Tai Fook Securities Company Limited, SHK Online Limited and DBS TD Waterhouse (Hong Kong) Limited as Vice-Chairmen; CASH Financial Services Group Limited as Treasurer; and Tai Fook Securities Company Limited as Secretary.

19 September 2002