09:43     BEAUFORTE INV<00021> - Announcement (4)                             

    `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               
                                   PRC                                        
    `Independent Third Party(ies)' independent third party(ies)               
                                   who is/are independent of and              
                                   not connected with the                     
                                   Company and any of the                     
                                   Directors, chief executive,                
                                   substantial shareholders of                
                                   the Company or any of its                  
                                   subsidiaries or any of their               
                                   respective associates                      
    `Investment'                   the investment of an                       
                                   aggregate of HK$12 million in              
                                   Century Energy by the Group                
                                   as contemplated under the JV               
                                   Agreement                                  
    `JV Agreement'                 the agreement dated 15                     
                                   December 2004 and entered                  
                                   into among the Chinese                     
                                   Parties and Eastern Energy in              
                                   relation to the investment of              
                                   an aggregate of HK$12 million              
                                   in Century Energy by Eastern               
                                   Energy                                     
    `Listing Rules'                the Rules Governing the                    
                                   Listing of Securities on the               
                                   Stock Exchange                             
    `PRC'                          the People's Republic of                   
                                   China                                      
    `RMB'                          Renminbi yuan, the lawful                  
                                   currency of the PRC                        
    `Shandong Risen'                (Shandong Risen Industry                  
                                   Company Limited), a company                
                                   incorporated in the PRC with               
                                   limited liability                          
    `Shenyang Tianqin'              (Shenyang Tianqin Asset                   
                                   Management Company Limited),               
                                   a company incorporated in the              
                                   PRC with limited liability                 
    `Shenzhen Tianqin'              (Shenzhen Tianqin Asset                   
                                   Management Company Limited),               
                                   a company incorporated in the              
                                   PRC with limited liability                 
    `Stock Exchange'               The Stock Exchange of Hong                 
                                   Kong Limited                               
                                                                              
    In this announcement, for the purpose of illustration only, amount        
    quoted in RMB have been converted into HK dollars at the rate of          
    RMB1.05 to HK$1.00. Such exchange rates have been used, where             
    applicable, for the purposes of illustration only and do not              
    constitute a representation that any amounts were or may have been        
    exchanged at these or any other rates or at all.                          
                                                                              
    As at the date of this announcement, the Directors are as follows:        
                                                                              
    Executive Directors            Mr. Liang Xudong, Robert, Mr.              
                                   Chen Baodong, Mr. Li Guanghao              
                                   and Mr. Li Zhaohui                         
    Independent non-executive      Mr. Cheung Hok Fung,                       
    Directors                      Alexander, Ms. Leung Fung                  
                                   Yee, Alice and Ms. Lou                     
                                   Aidong                                     
                                                                              
                                                                              
    By order of the Board                                                     
    Liang Xudong, Robert                                                      
    Chairman                                                                  
                                                                              
    Hong Kong, 3 January 2005