09:22     PACIFIC PLYWOOD<00767> - Unusual price & volume movements           

    The Stock Exchange has received a message from Pacific Plywood Holdings   
    Limited which is reproduced as follows:-                                  
                                                                              
    "This statement is made at the request of The Stock Exchange of Hong Kong 
    Limited.                                                                  
                                                                              
    We have noted the recent increases in price and trading volume of the     
    shares of the Company and wish to state that we are not aware of any      
    reasons for such increases.                                               
                                                                              
    We also confirm that there are no negotiations or agreements relating to  
    intended acquisitions or realisations which are discloseable under rule   
    13.23, neither is the Board aware of any matter discloseable under the    
    general obligation imposed by rule 13.09, which is or may be of a price-  
    sensitive nature.                                                         
                                                                              
    Made by the order of Pacific Plywood Holdings Limited the Board of        
    directors (comprising, executive directors : Mr. Budiono Widodo, Mr. Liao 
    Yun Kuang, Mr. Peng Chiu Ching, Mr. Sardjono Widodo, Mr. Yu Chien Te, non 
    -executive directors : Mr. Chen Chung I, Mr. Pipin Kusnadi, Mr. Sudjono   
    Halim and independent non-executive directors : Mr. Marzuki Usman, Mr.    
    Kusnadi Widjaja and Mr. Ngai Kwok Chuen) of which individually and jointly
    accept responsibility for the accuracy of this statement.                 
                                                                              
                                                                              
    For and on behalf of                                                      
    PACIFIC PLYWOOD HOLDINGS LIMITED                                          
                                                                              
    Peng Chiu Ching                                                           
    Managing Director                                                         
                                                                              
    3 January 2005"