7 December 2011

The Board of Directors of Television Broadcasts Limited (TVB) announces that Sir Run Run Shaw will retire from the position of Chairman of the Board on 31 December 2011. On the same day, he will also retire as a Non-executive Director, and a member of the Executive Committee of the Board.

Sir Run Run Shaw, aged 104, is one of the founding directors of TVB, and has been a Director of the Company since 1965. Between 1980 and 2009, Sir Run Run Shaw held the position of Executive Chairman of the Board. Between 1966 and 2009, he also held the position of the chairman of the Executive Committee of the Board. On 1 January 2010, Sir Run Run Shaw relinquished his executive duties and responsibilities, and was re-designated as Chairman of the Board, a position which he will hold up to his retirement on 31 December 2011.

Sir Run Run Shaw has made outstanding contributions to the Company over the past forty four years. Under his able leadership, particularly as Executive Chairman of the Board for thirty years, TVB has grown from strength to strength. Starting as a terrestrial television operator in Hong Kong in 1967, the Company has in the past twenty years successfully set up broadcasting operations in Taiwan, North America, Australia and Europe offering quality programmes to the Chinese communities in these regions. The Company has, by partnering with leading local operators therein, further built up a strong programme distribution network throughout Asia, particularly in mainland China, Malaysia, Singapore and Vietnam. TVB is now one of the best recognised Chinese television broadcasters and programme producers in the world.

In recognition of his sterling contributions to the Company, the Board is pleased to announce that Sir Run Run Shaw will be honoured with the title of Chairman Emeritus of the Company, following his retirement.

The Board is pleased to further announce the appointment of Dr Norman Leung Nai Pang, currently Executive Deputy Chairman, as the Executive Chairman of the Board, effective 1 January 2012.

Dr Leung, aged 71, was appointed a Director of the Company in September 2003 when he also took up the position as Executive Deputy Chairman. He was further appointed as chairman of the Executive Committee of the Board on 1 January 2010.

Dr Leung is the deputy chairman of Transport International Holdings Ltd., a company which is listed on The Stock Exchange of Hong Kong Limited (“Stock Exchange”). He is also a director of Wing Lung Bank Ltd, a company listed on the Stock Exchange until its withdrawal of listing on 16 January 2009. Dr Leung has been active in public service for over 30 years and he served as Commissioner of the Civil Aid Service from 1993 to 2007, Chairman of the Broadcasting Authority from 1997 to 2002, and Council Chairman of The City University of Hong Kong from 1997 to 2003. He is currently the Pro-Chancellor of City University of Hong Kong and a member of the Advisory Committee on Post-office Employment for former Chief Executives and Politically Appointed Officials.