10:08     GR INV INT'L<00310> - Announcement (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.                   
                                                                              
    GR Investment International Limited                                       
    (Incorporated in Bermuda with limited liability)                          
    (Stock code: 310)                                                         
                                                                              
    Announcement Pursuant To Rule 13.16                                       
    Of The Listing Rules                                                      
                                                                              
    Further to the announcement dated 1 June 2004 in relation to the general  
    disclosure pursuant to Rules 13.13 and 13.16 of the Rules Governing the   
    Listing of Securities on the Stock Exchange of Hong Kong Limited (the     
    "Listing Rules"), there is no change of information in relevant advance   
    to entities under Rule 13.13 since the announcement dated 1 June 2004     
    but there is change of information in the financial assistance and        
    guarantees given for facilities granted to affiliated companies by the    
    Group under Rule 13.16 as at 24 December 2004 of which the relevant       
    percentage ratios for the amount of the increase is 3% or more since the  
    previous disclosure in the announcement dated 1 June 2004. In accordance  
    with the requirement under Rules 13.14 and 13.16 of the Listing Rules,    
    the Board of Directors of GR Investment International Limited (the        
    "Company") and its subsidiaries (the "Group") announces the latest        
    details of the financial assistance to and guarantees given for           
    facilities granted to affiliated companies of the Company by the Group    
    as at 24 December 2004.                                                   
                                                                              
    1.        Disclosures                                                     
                                                                              
    Under Rule 13.16 of the Listing Rules                                     
                                                                              
    Details of the financial assistance and guarantees given for facilities   
    granted to affiliated companies by the Group as at 24 December 2004 in    
    aggregate exceeds the relevant percentage ratios of 8% under Rule 13.16   
    of the Listing Rules are listed below. The approximate percentage         
    represented by each item is calculated over the market capitalization in  
    HK$64,360,848 of the Company.                                             
                                                                              
                                                                              
    Aggregate                                                                 
                                                            Extent of         
            of financial                                                      
            Attributable                                                      
    guaranteed                assistance and                 Approximate      
            interest held                 Financial                           
    Guarantees                 facilities                guarantees           
    percentage                                                                
    Affiliated Companies        by the Group                assistance (A)    
            given (B)                utilized                given (A+B)      
            represented                                                       
            %                HK$'000                HK$'000                   
    HK$'000                HK$'000                %                Notes      
                                                                              
    Luck Point Investments                                                    
      Limited        35.00                5,022                -              
    -                5,022                7.8                a                
                                                                              
    Happy Online Group                                                        
      Limited        33.75                173                -                
    -                173                0.3                b                  
                                                                              
    Bright Honest Limited        25.00                12,000                  
    4,750                4,000                16,750                26.0      
            c                                                                 
                                                                              
                                                                              
    Total                        17,195                4,750                  
    4,000                21,945                34.1                d&e        
                                                                              
                                                                              
    Notes :                                                                   
                                                                              
    a.        The financial assistance was made as shareholder's loans to     
    finance the investment made by Luck Point Investments Limited and were    
    interest free, unsecured and repayable on demand. There was no change of  
    the information since the announcement dated 1 June 2004.                 
                                                                              
    b.        The financial assistance was made as shareholder's loans to     
    finance the investment made by Happy Online Group Limited and were        
    interest free, unsecured and repayable on demand. There was an increase   
    of approximately HK$22,000 being additional shareholder's loan since the  
    announcement dated 1 June 2004.