09:43     STARBOW<00397> - Announcement (5)                                   

    relation to the Placing                                                   
                                                                              
    "Placing Price"   HK$0.045 per Placing Share                              
                                                                              
    "Placing Shares"   an aggregate of 147,140,000 Shares to be placed        
    pursuant to the terms of the Placing Agreement                            
                                                                              
    "Shares"   ordinary shares of HK$0.01 each in the share capital of the    
    Company                                                                   
                                                                              
    "Shareholder(s)"   holders of the Shares                                  
                                                                              
    "Stock Exchange"   The Stock Exchange of Hong Kong Limited                
                                                                              
    "HK$"   Hong Kong dollars, the lawful currency of Hong Kong               
                                                                              
    "%"   per cent.                                                           
                                                                              
    By order of the Board                                                     
    STARBOW HOLDINGS LIMITED                                                  
    Kenneth Chi                                                               
    Chairman                                                                  
                                                                              
    Hong Kong, 30 November 2004                                               
                                                                              
    *  for identification purposes only