ZNDT Zindart Limited ADS (MM)

Zindart Limited (NASDAQ: ZNDT) announced today that Peter Gardiner, Executive Chairman of the Board and Chief Executive Officer, has left the employ of the company effective immediately and has resigned from the company's board of directors. The Board is pleased to announce the appointment of George Volanakis as Chief Executive Officer of Zindart Limited, effective immediately. Mr. Volanakis was formerly the President and Chief Executive Officer of Zindart's Corgi division, and prior to that has held senior positions at various international toy companies for over 35 years. The Board also announced the appointment of John Clough, an independent director of the Board, as Non-Executive Chairman of the Board. Mr. Gardiner will not be standing for re-election at the Annual General Meeting on Tuesday, Sept. 27, 2005.