CY Oriental Holdings Ltd. announces annual general meeting results and corporate developments



    VANCOUVER, June 6 /CNW/ - CY Oriental Holdings Ltd. (TSX-V: CYO) (the
"Company") announces the results of its annual general meeting (the "Meeting")
held on June 4, 2007. At the Meeting, the shareholders of the Company approved
all resolutions placed before them by management, including the election of
directors, the appointment of the auditor, and an amendment to the Company's
share option plan.
    The shareholders elected Senator Larry W. Campbell, Ping Chen, Dickson
Hall, The Honourable John D. Reynolds, P.C., and Ka (Philip) Yu to serve as
directors of the Company. As of the close of the Meeting, the Company's board
is constituted of a majority of independent directors, namely Larry Campbell,
Dickson Hall and John Reynolds.
    The shareholders appointed Ernst & Young LLP as the Company's auditors
and authorized the directors to fix their remuneration.
    The shareholders amended the share option plan to increase the maximum
number of common shares issuable under the Company's share option plan by an
additional 4,574,500 common shares from 110,000 to 4,684,500 common shares
representing approximately, but not greater than, 10% of the issued and
outstanding common shares of the Company as is customary for share option
plans. The shareholders also adopted the amended and restated share option
plan, which included this increase in the number of common shares issuable
under the plan. The Company views this amended share option plan to be a key
component of the Company's compensation package for its employees and
directors. The details in respect to the amendment and the amended and
restated share option plan are set out in the Company's management information
circular pertaining to the Meeting, which is available for public viewing on
the Internet at www.sedar.com.
    At the first meeting of the newly constituted Board of Directors, the
following individuals were appointed or re-appointed as officers of the
Company:

    
      Ping Chen, Chairman of the Board, President and Chief Executive Officer
      Hon Cheung (Stephen) So, Chief Financial Officer
      Xinmei Yu, Chief Operating Officer
      Chris X. Chen, Vice President, Business Development
      Mingjie (John) Yuan, Vice President and Corporate Secretary
    

    In joining the Board of Directors, Dickson Hall will receive (subject to
acceptance by the TSX Venture Exchange) an option to acquire 732,500 common
shares at an exercise price of $1.40 per share vesting over a four-year period
and expiring in 2012. Also, as for all of the Company's non-executive
directors, Dickson Hall will receive an annual fee of $25,000 for his
services.
    Finally, the Board of Directors reconstituted its standing board
committees, all of which are comprised of independent directors. The Audit
Committee is comprised of Dickson Hall (Chair), Larry Campbell and John
Reynolds; the Governance and Nominating Committee is comprised of Larry
Campbell (Chair), Dickson Hall and John Reynolds; and the Compensation
Committee is comprised of Dickson Hall (Chair), Larry Campbell and John
Reynolds. The Board of Directors also reconstituted the Disclosure Committee,
which is comprised of three officers, Hon Cheung (Stephen) So, the Chief
Financial Officer (Chair), Ping Chen, the Chief Executive Officer and Mingjie
(John) Yuan, the Vice President and Corporate Secretary.

    About CY Oriental Holdings Ltd.

    CY Oriental Holdings Ltd. is a Canadian incorporated, China-based
manufacturer and value-added supplier of apparel and fashion products to
leading international brands and retailers, including department stores. CY
owns and operates a manufacturing facility in Shanghai, China, and is readying
its newly constructed facility in the city of Tengzhou, China, for commencing
production. The Company's ready-made products include a broad range of
high-quality garments, including woven casual wear, woven formal wear, denim
and knit junior sportswear.

    The TSX Venture Exchange does not accept responsibility for the adequacy
    or accuracy of this release.

    %SEDAR: 00023392E




For further information:

For further information: Mingjie (John) Yuan, Vice President and
Corporate Secretary, CY Oriental Holdings Ltd., Tel: (604) 633-9833, Email:
john@sh-maoyuan.com; Trevor Heisler, Investor Relations, The Equicom Group,
Tel: (416) 815-0700 ext 270, Email: theisler@equicomgroup.com

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CY ORIENTAL HOLDINGS LTD.

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