09:10     GET NICE<00064> - Announcement (3)                                  

    million at 31st December, 2002 and the spread between current             
    bank deposit rate (currently in the range of 0.35% p.a. to 1.125%         
    p.a.) and bank borrowing cost (currently in the range of 2.644%           
    p.a. to 5% p.a.) is substantial, the Board is in the view that            
    applying the unused proceeds to reduce bank borrowings is better          
    off than placing the proceeds at bank for general working capital.        
    The principal effect of the adjustment set out above is that              
    the Group can be benefited from reducing bank interest expenses           
    and thus increase the profit attributable to the Shareholders.            
    Besides, the Reallocation enables the Group to achieve a better           
    cash management position while the unutilized banking facilities          
    available for general working capital and financing margin loans          
    will be increased.                                                        
                                                                              
    The Board considers that the Reallocation will not have any               
    effect on the development of the Group's business. The Group              
    will continue to focus on the provision of wide ranges of                 
    financial services. Besides, the Group has always maintained              
    adequate working capital, as indicated by the high level of net           
    current assets (approximately HK$247.1 million at 30th September,         
    2002, from latest interim report) and the unutilized facilities           
    from banks and a financial institution of approximately HK$509            
    million as at 13th January, 2003. The Board may reconsider the            
    implementation of the expansion plans when the Board thinks               
    appropriate.                                                              
                                                                              
    The Board confirms that there are no adverse changes in financial         
    and trading information of the Group since the Company announced          
    its interim results. The Reallocation will be subject to the              
    approval of the Independent Shareholders at the extraordinary             
    general meeting ("EGM"). Honeylink Agents Limited, a company              
    beneficially owned by Mr. Hung Hon Man, the Chairman of the               
    Company; Mr. Shum Kin Wai, Frankie and Chambray Resources Limited,        
    a company beneficially owned by Mr. Cham Wai Ho, Anthony, both            
    being the executive Directors of the Company, which together              
    are interested in 75% of the existing issued share capital of             
    the Company as at the date of this announcement, will abstain             
    from voting in respect of their shareholding interests in the             
    Company in the resolution for the approval of the Reallocation            
    at the EGM. A circular, containing the details of the                     
    Reallocation, the advice of the independent financial adviser,            
    the recommendation of the independent non-executive Directors             
    and a notice convening the EGM of the Company will be dispatched          
    to the Shareholders as soon as practicable.                               
                                                                              
    By Order of the Board                                                     
    Get Nice Holdings Limited                                                 
    Hung Hon Man                                                              
    Chairman                                                                  
                                                                              
    Hong Kong, 23rd January, 2003