RNS Number:2951M
Guangdong Development Fund Ld
13 June 2003

                       Guangdong Development Fund Limited
                       Appointment of Alternate Director
                          and Resignation of Director


Hong Kong, 13 June 2003 : Guangdong Development Fund Limited ("Company")
announces that (i) Mr. Mohammad Haroon was appointed as an alternate director to
Mr. Faisal Hamad Mubarak Al-Ayyar for the sole purpose of attending the board
meeting of the Company held on 13 June 2003; and (ii) Mr. Leung Yau Wan, John
has resigned as a director of the Company with effect from 1 June 2003.




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