10:52     SEEC MEDIA<00205> - Announcement (4)                                

    stated in the circular of the Company dated 18                            
    November 2004, the Directors estimate that the                            
    overall effect of the disposal of the exclusive                           
    advertising publication right in China Business Post                      
    (*) pursuant to the Sale and Purchase Agreement                           
    on the Group's consolidated income statement for the                      
    year ending 31 December 2004 will be a net profit of                      
    approximately HK$35,000,000 being the difference                          
    between the combined result of the unaudited gain on                      
    disposing of the exclusive advertising publication                        
    right in China Business Post (*) and the                                  
    write-off of the carrying value of such right of                          
    approximately HK$12,000,000.                                              
                                                                              
    GENERAL                                                                   
    Directors                                                                 
    As at the date of this announcement, the executive                        
    Directors are Messrs. Wang Boming, Zhang Zhifang, Dai                     
    Xiaojing, Li Shijie, Yeh Shuen Ji and Xu Xiaolu; and                      
    the independent non-executive Directors are Messrs.                       
    Fu Fengxiang, Wang Xiangfei and Ge Ming.                                  
                                                                              
    Information on the Group                                                  
    The principal activity of the Company is investment                       
    holding while its subsidiaries are mainly engaged in                      
    the provision of advertising agency services in the                       
    PRC.                                                                      
                                                                              
    Information on Beijing Panpac                                             
    Beijing Panpac is newly established for the purpose                       
    of holding an exclusive advertising publication right                     
    in China Business Post (*) to be granted under                            
    the Exclusive Agreement. The business scope of                            
    Beijing Panpac includes, inter alia, design,                              
    production and issue of advertisements in the PRC.                        
                                                                              
    DEFINITIONS                                                               
    "7 November Announcement"       the announcement of the                   
    Company dated 7 November 2004                                             
                                                                              
    "associate"     has the meaning ascribed to it in the                     
    Listing Rules                                                             
                                                                              
    "BCCI"  * (Beijing Caixun                                                 
    Century Infotech Co., Ltd.), a Sino-foreign equity                        
    joint venture enterprise established under the laws                       
    of the PRC between (a) Superfort Management as to 60%                     
    of the registered capital; and (b) Shanghai SEEC as                       
    to 40% of the registered capital, and an indirect                         
    subsidiary of the Company                                                 
                                                                              
    "Beijing Caixun Advertising"    *                                         
    (Beijing Caixun Advertising Co., Ltd.), a limited                         
    liability company established under the laws of the                       
    PRC and an indirect subsidiary of the Company                             
                                                                              
    "Beijing Panpac"        * (Beijing Panpac                                 
    Advertising Company Limited), a domestic limited                          
    liability company established under the laws of the                       
    PRC, the entire capital of which is owned as to 50%                       
    by Ms. Liu Hong and 50% by Mr. Zhu Kai all in trust                       
    for Caijing Times pursuant to two loan agreements both                    
    dated 2 December 2004 between Caijing Times and Ms.                       
    Liu Hong and between Caijing Times and Mr. Zhu Kai,                       
    respectively                                                              
                                                                              
    "Board" the board of Directors                                            
                                                                              
    "BVI"   British Virgin Islands                                            
                                                                              
    "Caijing Times" Caijing Times Advertising                                 
    Development Corporation Limited (*)                                       
    (previously known as Maxful Management Corp.),                            
    a company incorporated under the laws of BVI with                         
    limited liability and a direct