09:11     401 HOLDINGS<02993> - Share Consolidation                           

    Market participants are requested to note that the shareholders           
    of 401 Holdings Limited ("401 HOLDINGS") have approved the                
    consolidation of shares on the basis of 50 then existing ordinary         
    shares ("Old Shares") of 401 HOLDINGS into 1 new ordinary shares          
    ("New Shares").  Effective from today (28/11/2002), a temporary           
    counter under stock code 2993 and stock short name "401 HOLDINGS"         
    will be established for trading in board lots of 400 New Shares each      
    to replace the previous counter (stock code: 401) for trading             
    in board lots of 20,000 Old Shares each.                                  
                                                                              
    The Stock Exchange has received a message from Man Yue International      
    Holdings Limited which is reproduced as follows:-                         
                                                                              
    "This Statement is made at the request of the Stock Exchange of Hong Kong 
    Limited.                                                                  
                                                                              
    We have noted the recent increase in the trading volume of the shares of  
    the Company and wish to state that we are not aware of any reasons for    
    such increase.                                                            
                                                                              
    We also confirm that there are no negotiations or agreements relating to  
    intended acquisitions or realizations which are discloseable under        
    paragraph 3 of the Listing Agreement, neither is the Board aware of any   
    matter discloseable under the general obligation imposed by paragraph 2 of
    the Listing Agreement, which is or may be of a price-sensitive nature.    
                                                                              
    Made by the order of the Board of Man Yue International Holdings Limited  
    the directors of which individually and jointly accept responsibility for 
    the accuracy of this statement.                                           
                                                                              
                                                                              
    By Order of the Board                                                     
    Man Yue International Holdings Limited                                    
                                                                              
    Ho Kwong Kuen, David                                                      
    Exceutive Director                                                        
                                                                              
    Hong Kong, 27th November, 2002"