09:43     STARBOW<00397> - Announcement (4)                                   

    87,460,000 Shares in which Great Sense Limited is interest under the      
    SFO.                                                                      
                                                                              
    The existing authorised share capital of the Company consists of          
    30,000,000,000 Shares out of which 735,796,853 Shares are issued and      
    fully paid up.                                                            
                                                                              
    General                                                                   
                                                                              
    The Group is principally engaged in manufacturing and sales of garment    
    and securities trading.                                                   
                                                                              
    Application will be made by the Company to the listing committee of the   
    Stock Exchange for the grant of the listing of, and permission to deal    
    in, the Placing Shares.                                                   
                                                                              
    As at the date of this announcement, the executive Directors are Mr. Chi  
     Chi Hung, Kenneth and Mr. Hui Sze Yin, Clarence and three independent    
    non-executive Directors are Mr. So Hon Cheung, Stephen, Mr. Lau Man Tak   
    and Ms. Xia Ling Yun.                                                     
                                                                              
    The following table summaries the capital raising activities of the       
    Group for the 12 months immediately before the date of this               
    announcement:                                                             
                                                                              
                Actual use of                                                 
                net proceeds as at                                            
    Date of          Intended use of    the date of                           
    announcement   Event   Net proceeds   net proceeds   this announcement    
          (approximately)                                                     
                                                                              
    13 January 2004   Placing of 2,000,000,000    HK$19.6 million   (i) As    
    to about    (i) As to about HK$14.5                                       
         Shares at a price of         HK$14.5 million for      million for    
    the repayment                                                             
         HK$0.01 per Share        the repayment of      of loans and          
    liabilities;                                                              
               loans and liabilities;      (ii) as to approximately           
               (ii) as to approximately      HK$3.5 million for               
               HK$5.1 million for      investment in marketable               
               other general working      securities and (iii) as to          
               capital purposes     HK$1.6 million for other                  
                  general operating                                           
                  expenses including rental                                   
                  expenses and staff                                          
                  salaries.                                                   
                                                                              
    Terms and definitions                                                     
                                                                              
    "Board"   the board of Directors                                          
                                                                              
    "Business Day"   any day (excluding a Saturday) on which banks generally  
     are open for business in Hong Kong                                       
                                                                              
    "Company"   Starbow Holdings Limited, a company incorporated in Bermuda   
    with limited liability and the Shares of which are listed on the main     
    board of the Stock Exchange                                               
                                                                              
    "Director(s)"   director(s) of the Company                                
                                                                              
    "Group"   the Company and its subsidiaries                                
                                                                              
    "Hong Kong"   Hong Kong Special Administrative Region of the People's     
    Republic of China                                                         
                                                                              
    "Listing Rules"   the Rules Governing the Listing of Securities on the    
    Stock Exchange                                                            
                                                                              
    "Placees"   any individual(s), institutional or other professional        
    investor(s) or any of their respective subsidiaries or associates         
    procured by the Placing Agent to subscribe for any of the Placing Shares  
     pursuant to the Placing Agent's obligations under the Placing Agreement  
                                                                              
                                                                              
    "Placing"   the placing of 147,140,000 new Shares pursuant to the terms   
    of the Placing Agreement                                                  
                                                                              
    "Placing Agent"   Kingston Securities Limited, a licensed corporation to  
     carry on business in types 1, 4, 6, and 9 regulated activities (dealing  
     in securities, advising on securities and corporate finance and asset    
    management) under the Securities and Futures Ordinance (Chapter 571 of    
    the Laws of Hong Kong)                                                    
                                                                              
    "Placing Agreement"   a conditional placing agreement entered into        
    between the Company and the Placing Agent dated 30 November 2004 in