09:23     CYBER ON-AIR<08118> - Announcement                                  

                                                                              
    This announcement is made at the request of the Stock                     
    Exchange of Hong Kong Limited. The Stock Exchange of Hong                 
    Kong Limited takes no responsibility for the contents of                  
    this announcement, makes no representation as to its                      
    accuracy or completeness and expressly disclaims any                      
    liability whatsoever for any loss howsoever arising from or               
    in reliance upon the whole or any part of the contents of                 
    this announcement.                                                        
                                                                              
    CYBER ON-AIR GROUP COMPANY LIMITED                                        
    (Incorporated in the Cayman Islands with Limited Liability)               
                                                                              
    Announcement                                                              
                                                                              
    We have noted the today's decrease in the price of the shares             
    of Cyber On-Air Group Company Limited (the "Company") and                 
    wish to state that we are not aware of any reasons for such               
    decrease.                                                                 
                                                                              
    We also confirm that there are no negotiations or agreements              
    relating to intended acquisitions or realisations which are               
    discloseable under Chapter 19 to 20 of the GEM Listing Rules,             
    neither is the board of directors (the "Board") aware of any              
    matter discloseable under the general obligation imposed by               
    rule 17.10 of the GEM Listing Rules, which is or may be of                
    a price-sensitive nature.                                                 
                                                                              
    Made by the order of the Board, the directors of which                    
    collectively and individually accept responsibility for the               
    accuracy of this announcement.                                            
                                                                              
                                                                              
    By Order of the Board                                                     
    Choi Wing Kin                                                             
    Executive Director                                                        
                                                                              
    Hong Kong, 27th November 2002                                             
                                                                              
    This announcement will remain on the GEM website at                       
    www.hkgem.com on the "Latest Company Announcements" page                  
    for at least 7 days from the date of its posting and on the               
    website of the Company at www.cyberonair.com.