Low Check Kian, Chairman, Asia for NewSmith Capital Partners; and Dr. Wu Yibing, President of CITIC Private Equity Funds Management Co.; joined the Board on April 14th.' One day earlier, Directors Simon Israel and Dr. Friedbert Malt retired from the Board at NOL's Annual General Meeting.

'We are eager to welcome two very accomplished Asia business veterans to our Board of Directors,' said NOL Chairman Cheng Wai Keung.' 'At the same time, we thank our outgoing Directors for their contributions over the years.'

Low is one of the founding partners of NewSmith Capital Partners LLP, an independent partnership providing corporate finance advice and investment management services, with its headquarters based in London.' Prior to founding NewSmith, Mr Low was a Senior Vice-President and Member of the Executive Management Committee of Merrill Lynch & Co., as well as their Chairman for the Asia Pacific Region.

Low has served as an independent director on the Singapore Exchange (SGX) Board since 20 July 2000, and was appointed Lead Independent Director in May 2006.

Low received Bachelors and Masters Degrees in Economics from the London School of Economics.'

Dr. Wu manages a firm overseeing more than US$2 billion worth of assets.' Before joining CITIC Private Equity Funds Management Co., he was Managing Director of Legend Holdings.' He also spent three years at Lenovo, leading its acquisition of the Personal Computing Division of IBM. Before that he was a Senior Partner of McKinsey & Co and General Manager of McKinsey Beijing.