Neil Pryde Retiring From Pryde Group

Hong Kong, January 14, 2015 — Pryde Group, an international sports group, announces the retirement of founder and Chairman Mr. Neil Pryde effective January 1, 2015.

Over the past 44 years Mr. Pryde has led the Company through tremendous growth and development, building it into a benchmark in marine and action sports.

Starting as a sail maker in 1970, the Company has successfully expanded into multiple sports and product categories, spearheading the windsurfing and kitesurfing sports revolutions. The international distribution network that the Company established under Mr. Pryde's leadership is unmatched with presence in over 40 countries and in more than 2000 retail locations. Over the years, the Pryde Group's products have won numerous design and marketing accolades and the Company was twice awarded the coveted Hong Kong Business Award for international business excellence.

Mr. Pryde's unbelievable drive and will to win remain the pillars of the company and an inspiration to all employees.

Mr. Mark Shriro, Chairman of the Shriro Group, the controlling shareholder in Pryde Group, commented on Mr. Pryde's retirement: "Neil has been our partner for the last 28 years and has built the Pryde Group into the position it occupies today. It has become a world famous brand and the leader in its field. It has won numerous world championships and many awards in the advertising and sporting fields. Neil will be greatly missed by us all and we wish him the best of health, luck and happiness in his future endeavors."

In leaving his post as Chairman Mr. Neil Pryde said: "Leaving the company which I founded and led for 44 years was undoubtedly an emotional wrench but I am confident that the Management Team headed by Patrick Pender and Peter Lui will continue to foster the winning spirit that has brought Neil Pryde Limited to the leadership position it occupies today. I thank everybody who has worked with me over the years to create this legacy—good luck!"

Neil Pryde leaves the company in the capable hands of CEO Patrick Pender and COO Peter Lui, as well as an established Senior Leadership Team. Mr. Pender and the management team will continue to champion the spirit that Mr. Pryde created while charting and executing an exciting new course for the company.