Powerland AG / Key word(s): Change of Personnel 16.07.2013 10:35 Dissemination of an Ad hoc announcement according to § 15 WpHG, transmitted by DGAP - a company of EQS Group AG. The issuer is solely responsible for the content of this announcement. --------------------------------------------------------------------------- Mr. Jiang Ya Chen appointed new CFO of Powerland AG - Experienced financial expert with German-Chinese background Frankfurt / Main, 16 July 2013 - The Supervisory Board of Powerland AG (ISIN DE000PLD5558 / Prime Standard), the leading Chinese manufacturer of exclusive handbags and leather goods in the luxury segment, has appointed Mr. Jiang Ya Chen as the company's new Chief Financial Officer with today's Supervisory Board resolution. As of 16 July 2013 Mr. Jiang Ya Chen will take over responsibility. Mr. Cai Qingsheng, who held the CFO position on an interim basis following the departure of Kelvin Ho, will in his capacity as Chief Accounting Officer of Powerland AG report to Mr. Jiang Ya Chen. 'We are delighted that with Jiang Ya Chen we are able to welcome an experienced financial expert as new CFO and member of the Management Board of Powerland AG', says Dr. Peter Diesch, Chairman of the Supervisory Board of Powerland AG. 'With his German-Chinese background and excellent knowledge and expertise in accounting and controlling, finance as well as audit and internal control, Jiang Ya Chen is perfectly suited to strengthen the finance and controlling team inside Powerland, support Powerland's growth strategy and help to further advance the company.' Before joining Powerland, Mr. Jiang Ya Chen (born 1969) was a Partner and Head of China at Diverso Innovation Fund, a fund specializing in investments in European medium-sized businesses, and based in Shanghai. Before that, he was from 2003 to 2009 Co-Founding Partner of a financial advisory group specializing in accounting, risk management and corporate finance as well as auditing processes. Mr. Jiang Ya Chen has an in-depth knowledge of these areas, which are essential for the position as CFO. He began his career in the Corporate Finance Division of KPMG in Berlin from 1996 until 2003, where he managed numerous German-Chinese transactions, among other things. He studied Banking and Commercial Law at Freie Universität Berlin and finished his studies with the degree 'Diplom Kaufmann' in 1995, and thus speaks excellent German and English in addition to his Chinese mother tongue. Besides Powerland, Mr. Jiang Ya Chen serves as Board Director and Chairman of the Audit Committee of Golden Shell Photographic Equipments, Shanghai, one of the world's largest manufacturer of professional flash equipment and photographic studio lighting products. For more information, please contact: Powerland AG Jiangbin He Investor Relations Director Lyoner Strasse 14 60528 Frankfurt am Main Germany Phone: +49 (0) 69 66 554 - 459 Fax: +49 (0) 69 66 554 - 276 eMail: [email protected] Home: http://www.powerland.ag 16.07.2013 DGAP's Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. Media archive at www.dgap-medientreff.de and www.dgap.de --------------------------------------------------------------------------- Language: English Company: Powerland AG Lyoner Straße 14 60528 Frankfurt am Main Germany Phone: +49 69 - 66554-459 Fax: +49 69 - 66554-276 E-mail: [email protected] Internet: www.powerland.ag ISIN: DE000PLD5558 WKN: PLD555 Listed: Regulierter Markt in Frankfurt (Prime Standard); Freiverkehr in Berlin, Düsseldorf, Hamburg, München, Stuttgart End of Announcement DGAP News-Service ---------------------------------------------------------------------------