Appointment Of Chief Financial Officer

The Board of Directors of Yongnam Holdings (the "Company") is pleased to announce the appointment of Mr Khoo Eng Hock as the Chief Financial Officer of the Company with immediate effect.

Mr Khoo joined the group as Chief Financial Officer on 1st April 2006 to understudy Mr See Khing Lim who had tendered his resignation.

Mr Khoo had worked as Group Financial Controller for a number of multi-national organizations in USA and Asia Pacific including NASDAQ listed Digital Video System Inc, and SGX listed Rotary Engineering Limited and Chip Eng Seng Limited.

Mr Khoo is a member of the Institute of Management Accountant- IMA USA, a fellow of the Association of Chartered Certified Accountants-FCCA UK, a member of the Chartered Institute of Management Accountants (ACMA) UK, and a CPA of the Institute of Certified Public Accountants- ICPAS Singapore. With extensive experience in the area of financial and management control particularly in the construction industry, he will be responsible for the group's financial and management accounting and assist the CEO in financial and business strategy matters.