09:48     LAI SUN DEV<00488> & LAI SUN INT'L<00191> - Joint Ann. (6)          

    ``Lim Family''   Mr. Lim, Madam U Po Chu (being a spouse of Mr.           
    Lim), Madam Lai Yuen Fong (being a spouse of Mr. Lim) and Mr. Lam         
    Kin Ngok, Peter (being a son of Mr. Lim) together with their              
    respective associates;                                                    
                                                                              
    ``Listing Rules''   the Rules Governing the Listing of Securities         
    on the Stock Exchange;                                                    
                                                                              
    ``Loan''   the loan in the aggregate amount of HK$225,200,000             
    being the subject matter of the Loan Note;                                
                                                                              
    ``Loan Note''   a loan note dated 30th April, 2002 issued by LSG          
    in favour of LSD in the amount of the Loan, where the full rights,        
    interest, benefit and title of LSD in and to the Loan was assigned        
    to Mr. Lim by virtue of the Deed of Assignment;                           
                                                                              
    ``LSD''   Lai Sun Development Company Limited, a company                  
    incorporated in Hong Kong, the shares of which are listed on the          
    Stock Exchange;                                                           
                                                                              
    ``LSG''   Lai Sun Garment (International) Limited, a company              
    incorporated in Hong Kong, the shares of which are listed on the          
    Stock Exchange;                                                           
                                                                              
    ``Mr. Lim''   Mr. Lim Por Yen;                                            
                                                                              
    ``Mr. Peter Lam''   Mr. Lam Kin Ngok, Peter;                              
                                                                              
    ``Sale and Purchase Agreement''   a conditional sale and purchase         
    agreement dated 25th July, 2002 between LSG, Joy Mind and Mr. Peter       
    Lam whereby Mr. Peter Lam agrees to acquire an aggregate of               
    1,582,869,192 shares in LSD, representing approximately 42.25% of         
    the issued share capital of LSD, from LSG and Joy Mind at the             
    aggregate consideration of HK$200 million subject to the terms and        
    conditions contained therein;                                             
                                                                              
    ``SFC''   the Securities and Futures Commission of Hong Kong;             
                                                                              
    ``Stock Exchange''   The Stock Exchange of Hong Kong Limited;             
                                                                              
    ``Supplemental Deed''   a conditional deed dated 25th July, 2002          
    between Mr. Lim and LSG whereby the Loan Note is supplemented and         
    amended to the effect that LSG shall have the right at any time           
    after the date of the Loan Note to prepay the Loan or any amount          
    thereof and undertakes further to prepay a sum of HK$200 million          
    to Mr. Lim subject to the terms and conditions contained therein;         
                                                                              
    ``Takeovers Code''   Hong Kong Codes on Takeovers and Mergers; and        
                                                                              
    ``HK$''   Hong Kong dollars.                                              
                                                                              
    By Order of the Board                                                     
    Lai Sun Garment                                                           
    (International) Limited                                                   
    Yeung Kam Hoi                                                             
    Company Secretary                                                         
                                                                              
    By Order of the Board                                                     
    Lai Sun Development                                                       
    Company Limited                                                           
    Yeung Kam Hoi                                                             
    Company Secretary                                                         
                                                                              
    Hong Kong, 25th July, 2002