09:28     MAE HOLDINGS<00851> - Unusual volume movement                       

    The Stock Exchange has received a message from MAE 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 increases in trading volume of the shares of the Company
    as at today and wish to state that we are not aware of any reasons for    
    such increases in the trading volume.                                     
                                                                              
    We also confirm that, save for the announcements issued by the Company    
    dated 23 December 2004, 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 the Board of MAE HOLDINGS LIMITED, the Board of      
    directors of which individually and jointly accept responsibility for the 
    accuracy of this statement.                                               
                                                                              
    As at the date of this announcement, the Board of Directors of the Company
    comprises Mr. Lo Wai Shing Felix, Mr. Lau Kevin and Ms. Leung Wai Kuen    
    Cerene as executive directors, and Mr. Yeong Yun Hong Gary, Mr. Chu Chin  
    Fan and Ms. Yan Po Kwan as independent non-executive directors.           
                                                                              
                                                                              
    By Order of the Board                                                     
    MAE HOLDINGS LIMITED                                                      
                                                                              
    Lo Wai Shing Felix                                                        
    Director                                                                  
                                                                              
    3 January 2005"