The Board of Directors of AGVA Corporation Limited (the "Company" or the "Group") wishes to announce that Mr Leonard Tay has resigned as Chief Financial Officer with effect from 21 May 2007.

The Board of Directors wishes to take this opportunity to thank Mr Leonard Tay for his contribution to the Group during his term of office and the Board extends their best wishes to Mr Leonard Tay in his future endeavours.

Mr Tan Heng Khuan has been appointed as the Chief Financial Officer of the Company with effect from 21 May 2007 in place of Mr Leonard Tay.

The details of Mr Tan Heng Khuan as required under Rule 704(7) of the Listing Rules are set out in the prescribed Announcement of Appointment of Chief Financial Officer.

By Order of the Board

Albert Lim Beng Guan
Director

21 May 2007