Investment Highlights According to JMS, Kingboard Laminates is the largest rigid laminate manufacturer globally in 2005, with production value market share worldwide and in the PRC of 9.9% and 31.7%, respectively Strong turnover growth throughout its 18 years of operations, with compound revenue growth rate of over 43% for the three years ended December 31, 2005 Attractive gross profit margins of 23.9%, 33.1%, 28.3% and 29.6% during the three years ended December 31, 2005 and the six months ended June 30, 2006 Net profits attributable to equity holders for the three years ended December 31, 2005 increased at a compound annual growth rate of over 66% One of the very few laminate manufacturers worldwide with a high degree of vertical-integration in its production process Substantial and strategic presence in PRC primary electronics manufacturing centers Low-cost structure as a result of PRC production base and scale

Hong Kong, November 23, 2006 - The world's largest laminate manufacturer Kingboard Laminates Holdings Limited ("Kingboard Laminates" or the "Company"; Stock code: 1888) today announced details of its proposed listing on the Main Board of the Stock Exchange of Hong Kong ("SEHK"). The listing represents a spin-off from Kingboard Chemical Holdings Limited ("Kingboard"; Stock code: 148), which will hold 75% of Kingboard Laminates immediately after the spin-off, assuming Over-allocation Option is not exercised.

Kingboard Laminates will initially offer a total of 750,000,000 shares (subject to adjustment and the Over-allocation Option), of which 675,000,000 shares, or 90% of the Global Offering, will be offered by way of an International Placing to institutional and professional and other investors, and inclusive of the Preferential Offer (see below for details). The remaining 75,000,000 Shares (subject to reallocation), or 10% of the Global Offering, will be offered to the Hong Kong public. The Offer Price range is set between HK$5.97 and HK$7.73 per share. There is an Over-allocation Option of up to 75,000,000 additional Sale Shares representing 10% of the initial Offer Shares.

To enable shareholders of Kingboard to participate in the Global Offering on a preferential basis, Qualifying Kingboard Shareholders are invited to apply for an aggregate of 37,500,000 Reserved Shares in the Preferential Offer. The Qualifying Shareholders will be entitled to subscribe on an assured basis at the Offer Price for one Reserved Share for every whole multiple of 22 existing Kingboard shares held by them as at 5:00 p.m. on November 20, 2006. The Reserved Shares are offered under the International Placing.

The Hong Kong Public Offer will open starting 9:00 a.m. on Friday, November 24, 2006 and close at 12:00 noon on Wednesday, November 29, 2006. Dealing in the Shares on the SEHK is expected to commence on Thursday, December 7, 2006.

Goldman Sachs (Asia) L.L.C. is the sole global coordinator, sole bookrunner and sole sponsor of the Global Offering.

Kingboard Laminates is a leading vertically-integrated electronics materials manufacturer, specializing in the production of laminates, the fundamental material for the production of printed circuit boards ("PCB"), which in turn are used in the production of a wide variety of electronic products. Kingboard Laminates also manufactures a wide range of upstream component materials ranging from glass yarn, glass fabric, bleached kraft paper, copper foil, to phenolic and epoxy resins, giving it cost advantage against its key competitors in the US, Europe, Japan, South Korea and Taiwan.

Among laminate manufacturers worldwide, Kingboard Laminates is one of the few that possess a vertically integrated production process. In 2005, approximately 75% of its glass yarn and 100% of its copper-foil needs were fulfilled by internal production. Producing upstream component materials internally enables the Company to realize significant cost savings and to manage exposure to material price volatility.

According to Japan Marketing Survey ("JMS"), the total global laminate market in terms of production value amounted to HK$51.2 billion in 2005, representing a growth of 23.1% over 2004. The PRC share of laminate production in the world total has increased from 22.0% in 2002 to 31.3% in 2005, representing a compound annual growth rate of 26.2% during that period.

Kingboard Laminates currently operates 16 manufacturing facilities in the PRC's primary electronics manufacturing centers in southern and eastern China. The Company plans to strengthen its leadership in this industry by further expanding its presence into eastern China, with a view to better serving existing and engaging new clients. To this end, the Company intends to apply approximately HK$566.2 million, out of the total net proceeds of approximately HK$936.8 million (based on a mid-point Offer Price of HK$6.85) from the issue of new Shares, to expand production capacity of laminates and upstream component materials at Fogang and Lianzhou in Guangdong province, and in Jiangyin, Jiangsu province.

Mr Cheung Kwok Wa, Chairman of Kingboard Laminates noted: "Leveraging off our competitive production base in the PRC, we now seek to expand our production of mass-demand laminate products to further our position in the global market share. Currently, only a small proportion of our laminate sales are generated from mass-demand, thin glass epoxy laminates. We believe that the thin laminates market represents a significant opportunity for sales growth, and commands higher gross profit margins. Our strategy of focusing on high-volume production of mass-demand paper and glass epoxy laminates will allow us to benefit from economies of scale to sustain cost advantages."

The Company's growth momentum remained strong in the first half of 2006, achieving revenues and net profits attributable to equity holders of HK$3,839 million and HK$804 million respectively, representing year-on-year growth of 43.5% and 59.5%, respectively.

"We intend to expand our laminate production capacity while maintaining our low-cost structure through efficiency improvements through our research and development efforts. We will also continue to build on our industry leadership and continue to expand market share, while preserving our low cost structure and profitability," added Mr Cheung.

The Global Offering will include a sale of existing Shares, the proceeds of which will be used by Kingboard Chemical for the development of PCB and chemical businesses, and to provide additional funding to reduce its level of indebtedness. At the same time, Kingboard Chemical will remain the majority Shareholder after listing and continue to enjoy the benefits of the development of the laminate business. The separate listing will also provide Kingboard Laminates with access to the capital markets and the flexibility to raise funds in the future to take advantage of the significant growth potential in the laminate market.

About Kingboard Laminates Holdings Limited
Kingboard Laminates Holdings Limited is a leading vertically-integrated electronics materials manufacturer, specializing in the production of laminates, a fundamental material ultimately used for the production of a wide variety of electronic products. The Company is the global leader in rigid laminates, with a strategic network of 16 manufacturing facilities in the PRC.