09:17     CHEUNG TAI HONG<00199> - Unusual price & volume movements           

    The Stock Exchange has received a message from Cheung Tai Hong Holdings   
    Limited which is reproduced as follows:-                                  
                                                                              
    "This announcement is made at the request of The Stock Exchange of Hong   
    Kong Limited (the "Stock Exchange") under rule 13.10 of the Listing Rules.
                                                                              
    We have noted today the increase in the price and volume of the shares    
    of the Company and wish to state that we are not aware of any reasons for 
    such increase.                                                            
                                                                              
    Save as disclosed in the announcements of the Company on 15 December 2004 
    and 28 December 2004 in relation to the placing of new shares and         
    convertible notes, and the clarification announcement on 30 December 2004,
    we confirm that there are no negotiations or agreements relating          
    to intended acquisitions and realizations which are discloseable under    
    rule 13.23, neither is the Board aware of any matter discloseable under   
    general obligation imposed by rule 13.09, which is or may be of a         
    price-sensitive nature.                                                   
                                                                              
    Made by the order of Cheung Tai Hong Holdings Limited, the board of       
    directors of which individually and jointly accept responsibility for the 
    accuracy of this statement.                                               
                                                                              
    As at the date hereof, the Board comprises three executive directors,     
    namely Mr. Lo Lin Shing, Simon (Chairman) Mr. Tse Cho Tseung and Ms.      
    Cheung Sze Man and four independent non-executive directors, namely Mr. Ho
    Hau Chong, Norman (Deputy Chairman), Mr. Wong Chi Keung, Alvin, Mr. Kwok  
    Ka Lap, Alva and Mr. Zhang Shichen"                                       
                                                                              
                                                                              
    For and on behalf of                                                      
    Cheung Tai Hong Holdings Limited                                          
                                                                              
    Cheung Yuk Ming                                                           
    Company Secretary                                                         
                                                                              
    3 January 2005"