The board of directors of Elegance International Holdings Ltd. announced that Ms. Paola Marchisio has resigned from her office as a non-executive Director of the company with effect from 30 April 2013. The board also announced that Mr. Maurizio De Gasperis has been appointed as a non-executive Director with effect from 2 May 2013 to fill in the casual vacancy in the Board following resignation of Ms. Paola Marchisio. Mr. Maurizio De Gasperis, aged 36, is the CFO of Asia Pacific business region of Safilo Group, a worldwide leader in the premium eyewear listed in Italian stock exchange. Mr. Maurizio De Gasperis is currently a director of Safilo Far East which is a substantial shareholder of the company holding approximately 23.05% of the issued share capital of the company.

Elegance International Holdings Ltd., Special/Extraordinary Shareholders Meeting, Mar 22, 2013., at 11:00 China Standard Time. Location: B2 & B4, 8th Floor, Block B, Mai Hing Industrial Building. Agenda: To approve the Supplemental Agreement, the transactions and the annual cap amounts for the financial years ending March 31, 2014, 2015 and 2016 in respect of the transactions.

Elegance International Holdings Ltd. announced unaudited consolidated earnings results for the six months ended September 30, 2012. For the period, the company reported loss attributable to owners of HKD 25,636,000 or 7.92 cents basic and diluted loss per share attributable to ordinary equity holders on revenue of HKD 191,537,000 compared to loss attributable to owners of HKD 15,465,000 or 4.78 cents basic and diluted loss per share attributable to ordinary equity holders on revenue of HKD 229,264,000 for the corresponding period last year. Loss before tax was HKD 29,339,000 against HKD 16,857,000 of prior year period.