09:10     CHINA RICH HOLD<01191> - 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.                   
                                                                              
    China Rich Holdings Limited                                               
    (incorporated in Bermuda with limited liability)                          
                                                                              
    ANNOUNCEMENT                                                              
                                                                              
    The Board of the Company refers to certain recent press articles          
    regarding the writ about a claim issued by Wing Fai Construction Company  
     Limited, a former subsidiary of the Company which was disposed on 22nd   
    April, 2002 (please refer to announcement made by the Company dated 25th  
     April, 2002 in relation to the disposal) against Fitzroya Finance        
    Company Limited ("Fitzroya"), a subsidiary of the Company for an amount   
    of HK$149 million (the "Claim").                                          
                                                                              
    The Board confirms that Fitzroya has not received any writ in relation    
    to the Claim. However, the Company is in the midst of seeking advice      
    from its lawyer in relation to the Claim and therefore, the Board         
    considered that it is not in a position to comment or assess the          
    financial impact of the Claim on the Company and its subsidiaries at the  
    moment.                                                                   
                                                                              
    The Board of the Company confirms that the Company is currently in        
    preliminary discussions in relation to the Investments. The Company has   
    not entered into any kind of binding or non-binding agreement in respect  
     of the Investments which are still at preliminary discussion stage, and  
     the Investments have not been approved by the Board of the Company.      
    Further announcement(s) will be made, if and when the Investments         
    proceed.                                                                  
                                                                              
    Shareholders should exercise caution when dealing in the shares of the    
    Company.                                                                  
                                                                              
    This announcement is made at the request of the Stock Exchange of Hong    
    Kong Limited (the "Stock Exchange").                                      
                                                                              
    The board of directors (the "Board") of China Rich Holdings Limited (the  
     "Company") has noted the recent increase in the share price and the      
    trading volume of the shares of the Company.                              
                                                                              
    The Board of the Company refers to certain recent press articles          
    regarding the writ about a claim issued by Wing Fai Construction Company  
     Limited, a former subsidiary of the Company which was disposed on 22nd   
    April, 2002 (please refer to announcement made by the Company dated 25th  
     April, 2002 in relation to the disposal) against Fitzroya Finance        
    Company Limited ("Fitzroya"), a subsidiary of the Company for an amount   
    of HK$149 million (the "Claim"). Fitzroya is primarily engaged in the     
    business of money lending.                                                
                                                                              
    The Board confirms that Fitzroya has not received any writ in relation    
    to the Claim. However, the Company is in the midst of seeking advice      
    from its lawyer in relation to the Claim and therefore, the Board         
    considered that it is not in a position to comment or assess the          
    financial impact of the Claim on the Company and its subsidiaries at the  
     moment. Further announcement(s) will be made, if and when the Board is   
    aware of any further development of the Claim.                            
                                                                              
    The Board of the Company confirms that the Company is currently in        
    preliminary discussions in relation to possible investments in various    
    businesses (the "Investments") The Company has not entered into any kind  
     of binding or non-binding agreement in respect of the Investments which  
     are still at preliminary discussion stage, and the Investments have not  
     been approved by the Board of the Company. Further announcement(s) will  
     be made, if and when the Investments proceed.                            
                                                                              
    Save as disclosed above, there are no other negotiations or agreements    
    relating to intended acquisitions or realizations which are discloseable  
     under paragraph 3 of the Listing Agreement, neither is the Board aware   
    of any matter discloseable under the general obligation imposed by        
    paragraph 2 of the Listing Agreement, which is or may be of a             
    price-sensitive nature.                                                   
                                                                              
    Shareholders should exercise caution when dealing in the shares of the    
    Company.                                                                  
                                                                              
    Made by the order of the Board, the directors of which individually and   
    jointly accept responsibility for the accuracy of this announcement       
                                                                              
    By Order of the Board                                                     
    China Rich Holdings Limited                                               
    Wong Siu Hing                                                             
    Company Secretary                                                         
                                                                              
    Hong Kong, 14th July, 2003