09:49     GREAT WALL TECH<00074> - Announcement                               

    The Stock Exchange of Hong Kong Limited takes no                          
    responsibility for the contents of this announcement, makes               
    no representation as to its accuracy or completeness and                  
    expressly disclaims any liabilities whatsoever for any loss               
    howsoever arising from or in reliance upon the whole or any               
    part of the contents of this announcement.                                
                                                                              
    Great Wall Technology Company Limited                                     
    (a joint stock limited company incorporated in                            
    The People's Republic of China with limited liability)                    
    (Stock Code: 0074)                                                        
                                                                              
    VERY SUBSTANTIAL DISPOSAL                                                 
    DELAY IN DESPATCH OF CIRCULAR                                             
                                                                              
    The Company has made an application to the Stock Exchange                 
    for an extension of time for the despatch of a circular,                  
    containing, inter alia, details of the Disposal and the                   
    Equity Transfer Agreement, an accountants' report of the                  
    Group and pro forma financial information on the remaining                
    group following the Disposal in accordance with Chapter 4                 
    of the Listing Rules to a date on or before 18 February 2005.             
                                                                              
    Reference is made to the announcement of the Company                      
    published on 14 December 2004 in relation to the Equity                   
    Transfer Agreement entered into on 10 December 2004 between               
    China Great Wall Computer Shenzhen Company Limited, a                     
    subsidiary of the Company, IBM Products AP Limited and IBM                
    Far East Holdings B.V. pursuant to which China Great Wall                 
    Computer Shenzhen Company Limited agreed to sell 20% of the               
    registered capital of International Information Products                  
    (Shenzhen) Co., Ltd. to IBM Products AP Limited for the                   
    Consideration (the "Announcement"). Captioned terms used                  
    herein shall have the same meanings as defined in the                     
    Announcement unless otherwise stated.                                     
                                                                              
    Pursuant to Rule 14.38 of the Listing Rules, the Company                  
    is required to despatch a circular in relation to the                     
    Disposal (the "Circular") within 21 days after the                        
    publication of the Announcement. The Circular should                      
    therefore be posted on or before 4 January 2005.                          
                                                                              
    Additional time is required for the Company and its                       
    accountants to compile and produce an accountants' report                 
    of the Group and pro forma financial information on the                   
    remaining group following the Disposal in accordance with                 
    Chapter 4 of the Listing Rules. Accordingly, the Company                  
    has applied to the Stock Exchange for an extension of time                
    for the despatch of the Circular to a date on or before 18                
    February 2005.                                                            
                                                                              
    By order of the Board                                                     
    Chen Yanming                                                              
    Company Secretary                                                         
                                                                              
    The Directors as at the date of this announcement are as                  
    follows:                                                                  
                                                                              
    Executive                                                                 
    Mr. Chen Zhaoxiong (Chairman)                                             
    Mr. Lu Ming                                                               
    Mr. Tam Man Chi                                                           
    Ms. Huang Rongfang                                                        
    Mr. Qiao Zhongtao                                                         
    Mr. Gao Keqin                                                             
                                                                              
    Independent Non-executive                                                 
    Mr. Li Sanli                                                              
    Mr. Chang Zhenming                                                        
    Mr. Li Xiaoru                                                             
                                                                              
    Shenzhen, PRC, 4 January 2005