09:59     CGD HOLDINGS<00162> - Announcement & Resumption (1)                 

    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 liability                        
    whatsoever for any loss howsoever arising from or in                      
    reliance upon the whole or any part of the contents                       
    of this announcement.                                                     
                                                                              
    China Golden Development Holdings Limited                                 
    *                                                                         
    (Incorporated in Bermuda with limited liability)                          
    (Stock Code: 162)                                                         
                                                                              
    DISCLOSEABLE TRANSACTION                                                  
    ENTERING INTO AN AGREEMENT                                                
    IN RELATION TO SHARING OF THE PROFITS OF                                  
    A GAMING FACILITY                                                         
                                                                              
    The Board is pleased to announce that on 28 December                      
    2004, the Participant, an indirect wholly-owned                           
    subsidiary of the Company, has entered into the                           
    Agreement with Mr. Cai and the Operator, pursuant to                      
    which, subject to satisfaction of certain conditions,                     
    the Participant will be entitled to share 20% of the                      
    net profits of the Gaming Facility for a period of                        
    5 years commencing on 1 January 2005. The entering                        
    of the Agreement constitutes a discloseable                               
    transaction for the Company under the Listing Rules.                      
                                                                              
    A circular containing information regarding, among                        
    other matters, the Agreement will be despatched to                        
    the Shareholders as soon as practicable.                                  
                                                                              
    Trading in the Shares was suspended with effect from                      
    9:39 a.m. on 28 December 2004 at the request of the                       
    Company pending the release of this announcement.                         
    Application has been made to the Stock Exchange for                       
    resumption of trading in the Shares with effect from                      
    9:30 a.m. on 5 January 2005.                                              
                                                                              
    1.      THE AGREEMENT                                                     
                                                                              
    Date:   28 December 2004                                                  
                                                                              
    Operator:       Anglo View Limited, a company                             
    incorporated in the British Virgin Islands and is                         
    beneficially wholly-owned by Mr. Cai                                      
                                                                              
    Guarantor:      Mr. Cai                                                   
                                                                              
    Mr. Cai covenants with and guarantees to the                              
    Participant the timely performance of any or all of                       
    the Operator's obligations under the Agreement and                        
    he will indemnify the Participant against any loss                        
    or liability arising from the Operator's failure to                       
    do so.                                                                    
                                                                              
    As at the date hereof, Mr. Cai holds 1.88% of the issued                  
    share capital of the Company. To the best of the                          
    knowledge, information and belief of the Directors,                       
    having made all reasonable enquires, save for his                         
    aforesaid shareholding interest in the Company, the                       
    Operator and Mr. Cai are third parties independent                        
    of and not connected with the Company and its                             
    connected persons and are not connected persons of                        
    the Company.                                                              
                                                                              
    Participant:    Ming Fai Princess Entertainment                           
    Limited, a company incorporated in the British Virgin                     
    Islands and an indirect wholly-owned subsidiary of                        
    the Company.                                                              
                                                                              
    Subject matter of       The Participant will be entitled                  
    to be paid 20% of the net profits (the