09:23     HUA YI COPPER<00559> - Announcement (1)                             

    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.                                                     
                                                                              
    Hua Yi Copper Holdings Limited                                            
    (Incorporated in Bermuda with limited liability)                          
    (Stock code: 559)                                                         
                                                                              
    ANNOUNCEMENT                                                              
    APPOINTMENT OF AUDITOR AND                                                
    PROPOSED SHARE CONSOLIDATION                                              
    ODD-LOT ARRANGEMENT                                                       
    AND                                                                       
    ADJUSTMENT TO SUBSCRIPTION PRICES OF SHARE OPTIONS                        
                                                                              
    APPOINTMENT OF AUDITOR                                                    
    The Board announces that at the special general                           
    meeting of the Company held on 24 November 2004 the                       
    ordinary resolution approving the appointment of                          
    Deloitte Touche Tohmatsu as the auditor of the Company                    
    was duly passed by the Shareholders.                                      
                                                                              
    SHARE CONSOLIDATION                                                       
    The Board proposes to effect the Share Consolidation                      
    by consolidating every 20 existing issued and                             
    unissued ordinary shares of HK$0.01 par value each                        
    into one new ordinary share of HK$0.20 par value each                     
    and to change the board lot size for trading in the                       
    ordinary shares in the capital of the Company from                        
    40,000 Existing Shares to 2,000 Consolidated Shares.                      
                                                                              
    The Share Consolidation is conditional, among other                       
    things, upon the approval by the Shareholders at the                      
    SGM and the Listing Committee of the Stock Exchange                       
    granting the listing of and permission to deal in the                     
    Consolidated Shares. A circular containing                                
    information regarding, among other matters, the Share                     
    Consolidation and the notice of the SGM will be                           
    despatched to the Shareholders as soon as                                 
    practicable.                                                              
                                                                              
    APPOINTMENT OF AUDITOR                                                    
    Reference is made to the Company's announcement dated                     
    28 October 2004 and circular dated 8 November 2004.                       
    The Board announces that at the special general                           
    meeting of the Company held on 24 November 2004 the                       
    ordinary resolution approving the appointment of                          
    Deloitte Touche Tohmatsu as the auditor of the Company                    
    was duly passed by the Shareholders.                                      
                                                                              
    SHARE CONSOLIDATION                                                       
    The Board proposes to consolidate every 20 Existing                       
    Shares into one Consolidated Share. The board lot for                     
    trading in the ordinary shares in the capital of the                      
    Company will be changed from 40,000 Existing Shares                       
    to 2,000 Consolidated Shares.                                             
                                                                              
    As at the date of this announcement, the authorised                       
    share capital of the Company was HK$200,000,000 and                       
    there were 10,591,250,000 issued Existing Shares and                      
    9,408,750,000 unissued Existing Shares. Upon the                          
    Share Consolidation becoming effective and assuming                       
    no new Existing Shares will be issued prior to the                        
    SGM, the authorised share capital of the Company will                     
    remain as HK$200,000,000 and there will be                                
    529,562,500 issued Consolidated Shares and                                
    470,437,500 unissued Consolidated Shares. Any                             
    fractional Consolidated Shares arising as a result