SOURCE: Exceed Company Ltd.

November 10, 2009 09:00 ET

Exceed Company Ltd. to Appoint Additional Independent Director and Constitute Board Committees

BEIJING--(Marketwire - November 10, 2009) - Exceed Company Ltd. ("Exceed" or the "Company") (NASDAQ: EDS), today announced that it will appoint William Sharp as an independent director and will form audit, compensation and nominations committees. Mr. Sharp joins the board alongside another current independent director, Professor Jichun Jin. The audit committee will be chaired by Mr. Sharp and both the compensation and nominations committees will be chaired by Professor Jin. All three committees will be comprised of Mr. Sharp and Professor Jin.

Since 1998, Mr. Sharp has been a director of Ferro Corp (NYSE: FOE), a New York Stock Exchange listed company that produces performance materials, where he serves as the chairman of the audit committee and as a member of the compensation committee and the finance committee. From 1964 to 2000, Mr. Sharp served at Goodyear Tire and Rubber Company in various capacities, including President of the North American Tire division, President of the Global Support Operations and President of its Europe, Middle East and Africa division. Since August 2005, Mr. Sharp has been an independent director of Xingda International Holdings Limited, a Hong Kong Stock Exchange listed company, where he serves as the chairman of the compensation and management development committee and a member of the audit committee.

Professor Jin is a professor of sports biomechanics at the Beijing Sports University, where he was formerly the University President. From 1982 to 1984, he was a visiting scholar at the University of Delaware, specializing in biomechanics. He served as a member of the editorial staff of the International Journal of Sport Biomechanics for a total period of four years between 1985 and 1989. Since 1987, he has been a council member of the International Council of Sport Science and Physical Education, and was appointed its regional coordinator of Asia in 2001.

"We are delighted to have accomplished leaders from global businesses and leading institutions join our board in order to guide our development and corporate governance," stated Shuipan Lin, Chairman and CEO of Exceed. "Exceed is going through rapid expansion in China and the experience of Mr. Sharp will help us implement best practices in corporate governance."


Exceed Company Ltd. designs, develops and engages in wholesale of footwear, apparel and accessories under its own brand, XIDELONG, in China. It is one of the leading domestic sports and leisurewear brands in China in terms of market share by sales revenue. Since operations began in 2002, Exceed has experienced significant growth in the mass market concentrated in the second and third tier cities in China and has established a market leading position as one of the top five Chinese sportswear brands. Exceed has three principal categories of products: (i) footwear, which comprises running, leisure, basketball, skateboarding and canvas footwear, (ii) apparel, which mainly comprises sports tops, pants, jackets, track suits and coats, and (iii) accessories, which mainly comprise bags, socks, hats and caps. Exceed Company Ltd. currently trades on Nasdaq under the symbols "EDS", "EDSWW" and "EDSUU".


This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 regarding future events and future performance of Exceed. These statements are based on management's current expectations or beliefs. Actual results may vary materially from those expressed or implied by the statements herein. This information is qualified in its entirety by cautionary statements and risk factor disclosure contained in certain of Exceed's Securities and Exchange Commission filings. For a description of certain factors that could cause actual results to vary from current expectations and forward-looking statements contained in this press release, refer to documents that Exceed files from time to time with the Securities and Exchange Commission. Exceed is under no obligation to, and expressly disclaims any obligation to, update or alter its forward-looking statements, whether as a result of new information, future events, changes in assumptions or otherwise.

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