09:32     KAMBOAT<00318> - Announcement (3)                                   

    DISCLOSEABLE TRANSACTION                                                  
    The relevant percentage ratio (other than the                             
    consideration ratio) as set out in Rule 14.07 of the                      
    Listing Rules for the Disposal is less than 5% whereas                    
    the percentage ratio for consideration test is more                       
    than 5% but less than 25%, the Disposal constitutes                       
    a discloseable transaction of the Company under                           
    Chapter 14 of the Listing Rules.                                          
                                                                              
    A circular in connection with the disposal of the                         
    Property will be dispatched to the shareholders of                        
    the Company as soon as practicable.                                       
                                                                              
    DEFINITIONS                                                               
    "Board"   the board of directors of the Company                           
                                                                              
    "Company"   The Kamboat Group Company Limited, a                          
    company incorporated in Cayman Islands with limited                       
    liability whose shares are listed on the Stock                            
    Exchange                                                                  
                                                                              
    "Completion"   the completion of the disposal of the                      
    Property, which will take place on or before 15th March,                  
    2005                                                                      
                                                                              
    "Disposal"   the disposal of the Property pursuant to                     
    the Formal Agreement                                                      
                                                                              
    "Formal Agreement"   the agreement entered relating                       
    to the Disposal of the Property as scheduled to be                        
    completed on or before 15th March, 2005                                   
                                                                              
    "Group"   the Company and its subsidiaries                                
                                                                              
    "HK$"   Hong Kong dollars, the lawful currency of Hong                    
    Kong                                                                      
                                                                              
    "Hong Kong"   The Hong Kong Special Administrative                        
    Region of the People's Republic of China                                  
                                                                              
    "Independent Third Party"   a party not connected                         
    with the Directors, chief executives or substantial                       
    shareholders of the Company or any of its subsidiaries                    
    or their respective associates as defined in the                          
    Listing Rules                                                             
                                                                              
    "Listing Rules"   The Rules Governing the Listing of                      
    Securities on The Stock Exchange of Hong Kong Limited                     
                                                                              
    "Property"   Unit B, 10th Floor, Tai Ping Industrial                      
    Park, 51 Ting Kok Road, Tai Po, Hong Kong                                 
                                                                              
    "Purchaser"    Mr. Yao Chak Ling Jimmy, who is an                         
    Independent Third Party                                                   
                                                                              
    "Vendor"   Kamboat Chinese Cuisine Company Limited,                       
    a company incorporated in BVI with limited liability                      
                                                                              
    "Stock Exchange"   The Stock Exchange of Hong Kong                        
    Limited                                                                   
                                                                              
    By order of the Board                                                     
    Wong Chi Man                                                              
    Chairman                                                                  
                                                                              
    Hong Kong, 29th December, 2004                                            
                                                                              
    As at the date of this announcement, the executive                        
    directors of the Company are Mr. Wong Chi Man, Mr.                        
    Wong See Sum J.P., Mr. Wong Chi Wing, Ms. Wong Lan                        
    Fun, Roberta and Ms. Ng Suk Bing, Mclanly,                                
    non-executive director is Mr. Tam Fook Yee and                            
    independent non-executive directors are Mr. Lee Man                       
    Youn, Montareal, Mr. Chan Kam Fai, Robert and Mr.                         
    Cheung Man Yau, Timothy.