08:50     INNOVATIVE INTL<00729> & <02903> - Odd Lot Arrangement              

    The Stock Exchange has received a message from Innovative International   
    (Holdings) Limited which is reproduced as follows:-                       
                                                                              
    "FACILITIES FOR ODD LOT HOLDERS                                           
                                                                              
    In order to alleviate the difficulties arising from the existence of odd  
    lots as a result of the Share Consolidation and Debt Restructuring, the   
    Company has appointed an agent to assist the Shareholders to match the    
    sale and purchase of odd lots during the period from 9:30 a.m. 15 January 
    2003 to 4:00 p.m. 7 February 2003, both days inclusive. Holders of the New
    Shares in odd lots (i.e. lots which are not integral multiples of 400,000 
    New Shares) who wish to take advantage of this facility either to dispose 
    of or to top up their odd lots to a board lot of 400,000 New Shares may   
    through their brokers contact Mr. Raymond Lo of AsiaVest Investment       
    Advisory Limited (Tel.: (852) 2536 0133) during such period. Holders of   
    the New Shares in odd lots should note that the matching of the sale and  
    purchase of odd lots is not guaranteed.                                   
                                                                              
    Shareholders are recommended to consult their own professional advisers if
    they are in any doubt about the facility described above."