09:18     REGAL INT'L<00078> - Announcement & Resumption of Trading(4)        

    the release of this announcement. The Company has applied to the          
    Stock Exchange for dealings to resume from 9:30 a.m. on 28th              
    November, 2002.                                                           
                                                                              
    DEFINITIONS                                                               
    As used in this announcement, the following words and phrases have        
    the same meanings assigned:                                               
                                                                              
    `Company'                      Regal Hotels International                 
                                   Holdings Limited, a 79.37%                 
                                   owned subsidiary of Paliburg               
                                   incorporated in Bermuda with               
                                   limited liability and the                  
                                   Shares of which are listed on              
                                   the Stock Exchange                         
    `EL Placing'                   the placement of an aggregate              
                                   amount of 62,000,000 existing              
                                   Shares to independent                      
                                   investors at the Placing                   
                                   Price through Ever-Long as                 
                                   the placing agent                          
    `Ever-Long'                    Ever-Long Securities Co. Ltd.              
    `Guo Yui'                      Guo Yui Investments Limited,               
                                   a wholly owned subsidiary of               
                                   Paliburg and incorporated in               
                                   the British Virgin Islands                 
    `Hong Kong'                    the Hong Kong Special                      
                                   Administrative Region of the               
                                   People's Republic of China                 
    `Joint Announcement'           the joint announcement dated               
                                   2nd August, 2002 made by                   
                                   Century City International                 
                                   Holdings Limited, Paliburg                 
                                   and the Company                            
    `Listing Rules'                the Rules Governing the                    
                                   Listing of Securities on the               
                                   Stock Exchange                             
    `Paliburg'                     Paliburg Holdings Limited, a               
                                   company incorporated in                    
                                   Bermuda with limited                       
                                   liability and the ordinary                 
                                   shares of which are listed on              
                                   the Stock Exchange                         
    `Placing'                      the UA Placing and the EL                  
                                   Placing, i.e. placement of an              
                                   aggregate amount of                        
                                   155,000,000 existing Shares                
                                   to independent investors at                
                                   the Placing Price                          
    `Placing Agents'               Uni-Alpha and Ever-Long                    
    `Placing Agreements'           the placing and underwriting               
                                   agreement dated 26th                       
                                   November, 2002 entered into                
                                   between Taylor and Uni-Alpha               
                                   relating to the UA Placing                 
                                   and the placing and                        
                                   underwriting agreement dated               
                                   26th November, 2002 entered                
                                   into between Taylor and                    
                                   Ever-Long relating to the EL               
                                   Placing                                    
    `Placing Price'                the placing price of HK$0.065              
                                   per Share                                  
    `Placing Shares'               an aggregate amount of                     
                                   155,000,000 existing Shares                
    `Shares'                       ordinary shares of HK$0.01                 
                                   each in the share capital of               
                                   the Company                                
    `Stock Exchange'               The Stock Exchange of Hong                 
                                   Kong Limited                               
    `Subscription'                 the subscription by each of                
                                   Taylor and Guo Yui of                      
                                   155,000,000 Subscription                   
                                   Shares, i.e. an aggregate                  
                                   number of 310,000,000                      
                                   Subscription Shares, at the                
                                   Subscription Price pursuant                
                                   to the Subscription Agreement              
    `Subscription Agreement'       the subscription agreement                 
                                   dated 26th November, 2002                  
                                   entered into between the                   
                                   Company, Taylor and Guo Yui                
                                   in respect of the                          
                                   Subscription                               
    `Subscription Price'           the subscription price of                  
                                   HK$0.065 per Share                         
    `Subscription Shares'          an aggregate number of                     
                                   310,000,000 new Shares                     
    `Taylor'                       Taylor Investments Ltd., a                 
                                   wholly owned subsidiary of                 
                                   Paliburg and incorporated in               
                                   the British Virgin Islands                 
    `UA Placing'                   the placement of an aggregate              
                                   amount of 93,000,000 existing