09:21     EARNEST INV<00339> - Unusual price movement                         

    The Stock Exchange has received a message from Earnest Investments        
    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 increase in price of the shares of the Company   
    and wish to state that it is not aware of any reasons for such change.    
                                                                              
    We also confirms that there are no negotiations or agreements relating to 
    intended acquisitions or realisations which are discloseable under rule   
    13.23, neither is the Board aware of any matters 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 Earnest Investments Holdings Limited,   
    the director of which individually and jointly accept responsibility for  
    the accuracy of this statement.                                           
                                                                              
    As at the date of this announcement, the board of directors of the Company
    consists of three executive directors, Mr. Chan Chak, Paul, Mr. Wang      
    Daming and Mr. Ngai Wah Sang and three independent non-executive          
    directors, Mr. Benny Lui, Ms. Chan Bow Ye, Bonita and Mr. Oliver Yeung Kam
    Lai.                                                                      
                                                                              
                                                                              
    By order of the Board                                                     
    EARNEST INVESTMENTS HOLDINGS LIMITED                                      
                                                                              
    Chan Chak                                                                 
    Director                                                                  
                                                                              
    Hong Kong, 6 January 2005"