The Board of Directors Tai Ping Carpets International Ltd. announced that Mr. Mak Wai Man, Raymond resigned as the company secretary of the company with effect from January 6, 2010. The board also announces that Ms Chan Wing Sze ("Ms Chan") has been appointed as company secretary of the company with effect from January 6, 2010. Ms. Chan is an associate member of the Hong Kong Institute of Certified Public Accountants.

Tai Ping Carpets International Ltd. reported unaudited consolidated earnings results for the six months ended June 30, 2009. For the period, the company's total comprehensive income for the period attributable to equity holders of the company was HKD 13,428,000 compared to HKD 56,354,000 a year ago. Net cash generated from operating activities was HKD 6,063,000 compared to HKD 25,198,000 a year ago. Capital expenditure in the form of property, plant & equipment and construction in progress incurred by the Group totalled HKD 13 million during the six-month period ended 30 June 2009 compared to HKD 31 million in 2008. As at 30 June 009, the aggregate net book value of the Group's property, plant & equipment, investment properties, leasehold land & land use rights, construction in progress and intangible assets (other than goodwill) amounted to HKD 363 million. The company expected that capital expenditure will decrease in 2009 as major initiatives to expand factory capacities and renovate showrooms have been substantially completed.

Tai Ping Carpets International Ltd. reported unaudited consolidated earnings results for the first six months ended June 30, 2009. For the period, the company reported The group's consolidated turnover was HKD 540 million, a year-on-year decrease of 13%, or HKD 80 million compared to turnover of HKD 620.2 million for the same period a year ago. The reduction was due to the recessionary global economy, ongoing since the fourth quarter in 2008. Turnover of carpet operations showed a relatively smaller decline of 9% year-on-year, while the turnover of non-carpet operations diminished by 61%. The group's operating profit totaled HKD 9 million, 32% lower, or HKD 5 million compared to HKD 13.9 million for the corresponding period in 2008. The decrease was mainly due to a HKD 4 million drop in profitability of the non-carpet operations. The group's profit attributable to equity holders was HKD 12 million, a reduction of 60% or 5.78 cents per basic and diluted share from HKD 30 million or 14.37 cents per basic and diluted share for the previous year. Profit before income tax expenses was HKD 20.5 million compared to HKD 41.7 million for the previous year. Capital expenditure in the form of property, plant & equipment and construction in progress incurred by the group totaled HKD 13 million compared to HKD 31 million for the previous year.