Vice President of China National Aviation Fuel Group Corporation appointed as CAO Director

(“CAO”) wishes to announce that Mr Luo Qun is appointed as a Non-Executive Director of CAO with effect from 26 February 2010. He will replace Mr Zhang Zhenqi, Executive Director/General Manager (Trading) of CAO, as a nominee director from China National Aviation Fuel Group Corporation (“CNAF”), the parent company of CAO.

Mr Zhang has resigned from CAO to take up a new appointment in the CNAF Group. With the appointment of Mr Luo, the following changes to the Board Committees of CAO will also be made effective from 26 February 2010:

(i) Dr Zhao Shousen will relinquish his office as Vice Chairman of the Nominating Committee and Remuneration Committee. He will remain as Vice Chairman of the Audit Committee and a member of the Risk Management Committee; and (ii) Mr Luo will be appointed as Vice Chairman of the Nominating Committee and Remuneration Committee.

Dr Wang Kai Yuen, Chairman of CAO said, “On behalf of the Board of CAO, I wish to express my gratitude to Mr Zhang for his efforts and contributions to CAO. Mr Zhang managed the day-to-day operations of CAO from June 2007 to May 2008 and was subsequently tasked with the responsibility of overseeing CAO’s trading business. He has played an instrumental role in the development of CAO. I wish him all the best in his new role within the CNAF group.”

“We would also like to extend a very warm welcome to Mr Luo. With his extensive experience in the civil aviation industry of the PRC, we believe he will be a valuable asset to the Board and to CAO,” added Dr Wang.

Prior to his appointment as the Vice President of CNAF, Mr Luo was the President of CNAF Logistics (previously known as CNAF Hai Tian Transportation Co, Ltd) from September 2004 to August 2008 and concurrently assumed the position of Assistant to the President of CNAF from December 2007 to August 2008. Mr Luo had held several leadership positions within the CNAF Group and was the project leader of the construction of the new jet fuel supply facilities at Guangzhou Baiyun International Airport from 1999 to 2004. He was also involved in the establishment of CAO (then known as Sino Aviation Oil Transportation (Singapore) Pte Ltd and the development of its business from 1993 and 1996.

Mr Luo holds a Master degree in Engineering from South China University of Technology and an Executive Master of Business Administration from National University of Singapore. He is a qualified Senior Engineer, Certified Senior Manager and Certified Senior Risk Manager.

(c) Centre for Asia Pacific Aviation. Date posted: 26-Feb-10