HACTL’S CHARTER RESIGNS

Anthony Charter, managing director of Hong Kong Air Cargo Terminals Ltd., will resign
this year after 28 years of service with Hong Kong’s largest air freight ground handling
company.

The move comes after a government study released this year found HACTL partly to blame
for the operational failures following the opening of Hong Kong’s new international
airport in July.

A former executive at Cathay Pacific Airway’s catering unit will succeed Charter.