09:07     FUJIKON IND<00927> - Announcement                                   

                                                                              
    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.                   
                                                                              
    Fujikon Industrial Holdings Limited                                       
    (incorporated in Bermuda with limited liability)                          
                                                                              
    RESTORATION OF MINIMUM PUBLIC FLOAT                                       
                                                                              
    The total amount of the Shares held by the public has increased to        
    approximately 26.66 per cent. of the total issued share capital of the    
    Company as at 20 January 2003. The minimum 25 per cent. public float of   
    the Shares has been restored in compliance with Rule 8.08 of the Listing  
    Rules.                                                                    
                                                                              
    Reference is made to the announcement of the Company dated 27 November    
    2002 (the "Previous Announcement"). Terms defined in the Previous         
    Announcement shall have the same meaning when used herein unless the      
    context requires otherwise.                                               
                                                                              
    As at 27 November 2002, Value Partners Limited was holding 36,082,000     
    Shares representing approximately 10.03 per cent. of the total issued     
    share capital of the Company. The Directors were informed by Value        
    Partners Limited on 21 January 2003 that Value Partners Limited has       
    disposed of 164,000 Shares, representing approximately 0.04 per cent. of  
    the total issued share capital of the Company as at 20 January 2003.      
    After the disposal, Value Partners Limited was holding 35,918,000 Shares  
    as at 20 January 2003, representing approximately 9.99 per cent. of the   
    total issued share capital of the Company.                                
                                                                              
    Value Partners Limited is no longer a substantial shareholder of the      
    Company, and hence, it will not be regarded as a connected person of the  
    Company under the Listing Rules. The Directors confirmed that Value       
    Partners Limited is not a connected person as defined under the Listing   
    Rules and Value Partners Limited does not have any representative on the  
    board of Directors before and after the disposal of Shares by Value       
    Partners Limited. Accordingly, the public float of the Shares rose from   
    approximately 16.63 per cent. as at 27 November 2002 to approximately     
    26.66 per cent. of the total issued share capital of the Company as at    
    the close of market on 20 January 2003 and the minimum 25 per cent.       
    public float of the Shares has been restored in compliance with Rule      
    8.08 of the Listing Rules.                                                
                                                                              
    By order of the Board                                                     
    Fujikon Industrial Holdings Limited                                       
    Yeung Chi Hung, Johnny                                                    
    CHAIRMAN                                                                  
                                                                              
    Hong Kong, 23 January 2003