Cessation Of Audit Committee And Remuneration Committee Members, Appointment Of Non-Executive Director, Appointment Of Independent Director, Change In The Composition Of The Board Of Directors, And Reconstitution Of Committees

The Board of Directors (the "Board") of Straco Corporation Limited (the "Company") wishes to announce the cessation of Messrs. Guo Qiang and Chen Hong Sheng as Members of the Audit Committee and Remuneration Committee respectively and the appointment of Messrs. Lim Song Joo and Neo Poh Kok David as Non-Executive Director and independent Director respectively.

Consequent upon the appointment of Mr. Lim Song Joo as Non-Executive Director, he will be appointed as a member of the Audit Committee in place of Mr. Guo Qiang and also a member of the Remuneration Committee.

Consequent upon the Appointment of Neo Poh Kok David as Independent Director, he will be appointed as a Member of the Audit Committee and Nominating Committee.

Madam Chua Soh Har will be appointed as a member of the Remuneration Committee in place of Mr. Chen Hong Sheng.

The details and declaration of Messrs. Lim Song Joo and Neo Poh Kok David required under Rule 704(7) of the Listing Manual of the Singapore Exchange Securities Trading Limited are contained in separate announcements released today.

Consequent to the above changes, the new composition of the Board of Directors is as follows:-

Mr. Wu Hsioh Kwang (Executive Chairman)
Mr. Chen Hong Sheng (Non-Executive Director)
Mr. Guo Qiang (Non-Executive Director)
Mr. Fu Xuezhang (Non-Executive Director)
Madam Chua Soh Har (Non-Executive Director)
Mr. Tay Siew Choon (Independent Director)
Dr. Choong Chow Siong (Independent Director)
Mr. Lim Song Joo (Non-Executive Director)
Mr. Neo Poh Kok David (Independent Director)

Reconstitution of Committees

That consequent upon the above changes to the Board, the Audit Committee, Nominating Committee and Remuneration Committee and will be reconstituted as follows:-

Audit Committee

Dr. Choong Chow Siong - Independent Director (Chairman)
Mr. Neo Poh Kok David - Independent Director
Mr. Lim Song Joo - Non-Executive Director

Nominating Committee

Mr. Tay Siew Choon - Independent Director (Chairman)
Mr. Neo Poh Kok David - Independent Director
Mr. Wu Hsioh Kwang - Executive Chairman

Remuneration Committee

Mr. Tay Siew Choon - Independent Director (Chairman)
Mr. Lim Song Joo - Non-Executive Director
Madam Chua Soh Har - Non-Executive Director



By Order of the Board


Lotus Isabella Lim Mei Hua
Company Secretary

Date: 18 May 2011