09:11     NAM FONG INT'L<01176> - Unusual price & volume movements            

    The Stock Exchange has received a message from Nam Fong International     
    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 the 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 confirm that there are no negotiations or agreements relating to       
    intended acquisitions or realizations 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 Nam Fong International Holdings Limited,
    the directors of which individually and jointly accept responsibility for 
    the accuracy of this statement.                                           
                                                                              
    As at the date hereof, the Board comprises Mr. Tong Shi Jun, Mr. Zhang    
    Jian, Mr. Zhao Lishen, Mr. Chiu Kong, Ms. Huang Ling and Ms. Zhu Jun as   
    executive directors and Mr. Chen Song Sheng, Ms. Chang Ling and Ms. Zhou  
    Mei Zhen as independent non-executive directors. "                        
                                                                              
                                                                              
    By Order of the Board                                                     
                                                                              
    Chiu Kong                                                                 
    Director                                                                  
                                                                              
    4 January 2005"