10:00     UPBEST GROUP<00335> - Announcement & Resumption (5)                 

    "EGM"   an extraordinary general meeting of                               
    Shareholders to be convened to consider and, if though                    
    fit, approve, among other things, the ordinary                            
    resolution(s) to approve First Acquisition                                
                                                                              
    "Group"   the Company and its subsidiaries                                
                                                                              
    "HK$"   legal currency of Hong Kong                                       
                                                                              
    "Hong Kong"   The Hong Kong Special Administrative                        
    Region of the PRC                                                         
                                                                              
    "Independent Board Committee"   an independent board                      
    committee, comprising Mr. Wong Wai Kwong, David, Mr.                      
    Pang Cheung Hing, Alex and Mr. Fuk Ho Kai, all                            
    independent non-executive directors, formed to                            
    advise the Independent Shareholders on the                                
    Transaction                                                               
                                                                              
    "Independent Shareholders"   Shareholders other than                      
    CCAA and its associates (has the meaning ascribed                         
    thereto under the Listing Rules)                                          
                                                                              
    "Listing Rules"   the Rules Governing the Listing of                      
    Securities on the Stock Exchange                                          
                                                                              
    "MOP"   legal currency of Macau                                           
                                                                              
    "Macau"   The Macau Special Administrative Region of                      
    the RPC                                                                   
                                                                              
    "Mr. Chan"   Mr. Chan Kun Van                                             
                                                                              
    "Mr. Lam"   Mr. Lam Iam Weng                                              
                                                                              
    "Mr. Song"   Mr. Song Ieong Kong                                          
                                                                              
    "Ms. Chim"   Ms. Chim Mei Hing                                            
                                                                              
    "San San"   Companhia De Fomento Predial E                                
    Investimento San San, Limitada, a company                                 
    incorporated in Macau on 20th July 1985 with limited                      
    liability                                                                 
                                                                              
    "Shareholders"   shareholders of the Company                              
                                                                              
    "Stock Exchange"   The Stock Exchange of Hong Kong                        
    Limited                                                                   
                                                                              
    "Valuer"   LCH (Asia-Pacific) Surveyors Limited                           
                                                                              
    By order of the Board                                                     
    LI Kwok Cheung, George                                                    
    Executive Director                                                        
                                                                              
    Hong Kong, 6 January 2005                                                 
                                                                              
    For the purpose of this announcement, translations                        
    of MOP into HK$ or vice versa have been calculated                        
    by using an exchange rate of HK$1.00 = MOP1.0256.