10:44     PREMIUM LAND<00164>-Announcement & Resumption of Trading(14)        

    CB Subscribers                                                            
    Stark International     -       0               -       0               - 
    0           -       0       182,000,000      2.13    182,000,000     1.71 
                                                                              
    Shepherd Investments    -       0               -       0               - 
         0               -        0               1,170,000,000               
    13.69           1,170,000,000           10.97                             
                                                                              
    Stark Asia      -       0               -       0               -       0 
                 -       0                                                    
            390,000,000             4.56            390,000,000     3.66      
                                                                              
    Stark Japan     -       0               -       0               -       0 
                 -       0                                                    
            234,000,000             2.74            234,000,000       2.19    
                                                                              
    Centar Investments      -       0               -       0               - 
         0               -       0                                            
            624,000,000             7.30            624,000,000       5.85    
                                                                              
    Placees of the                                                            
      Underwritten                                                            
      Convertible Notes     -       0               -       0               - 
         0                                                                    
            1,040,000,000           14.89           -       0                 
    1,040,000,000           9.75                                              
                                                                              
    Public  4,383,257,620           80.97           4,383,257,620             
            73.75           4,383,257,620           62.40     4,383,257,620   
     62.76           4,383,257,620           51.32     4,383,257,620   41.11  
                                                                              
                                 Total   5,413,725,970           100.00       
      5,943,725,970        100.00          7,023,725,970           100.00     
            6,983,725,970           100.00          8,543,725,970             
            100.00          10,663,725,970          100.00                    
                                                                              
    Notes:                                                                    
    1.      United Jumbo Limited is wholly and beneficially                   
    owned by Mr. Dong Bo, Frederic, the executive                             
    Director.                                                                 
                                                                              
    2.      Peakhill Investments Limited is, a limited                        
    liability company incorporated in the British Virgin                      
    Islands, wholly and beneficially owned by Mr. Lam Kwan                    
    Sing. The Company entered into the subscription                           
    agreement with Peakhill Investments Limited on 7                          
    December 2004 pursuant to which the Company agreed                        
    to issue and Peakhill Investments Limited agreed to                       
    subscribe for a convertible note in an aggregate                          
    principal amount of HK$32,400,000. Assuming the                           
    exercise of the convertible rights attached to the                        
    convertible notes in full at the initial conversion                       
    price of HK$0.03 in full, an aggregate of                                 
    1,080,000,000 new Shares will be issued. The issue                        
    of the convertible notes to Peakhill Investments                          
    Limited and such conversion Shares is subject to                          
    approval by Shareholders at the special general                           
    meeting of the Company which is to be held on that                        
    purposes.                                                                 
                                                                              
    3.      To the best knowledge, information and belief,                    
    having made all reasonable enquiry, of the Directors,                     
    (i) Peakhill Investments Limited and its ultimate                         
    beneficial owner; (ii) the parties including their                        
    respective ultimate beneficial owners to the Share                        
    Subscription Agreement and the Placing Agreement, the                     
    Placees and their respective ultimate beneficial                          
    owners; and (iii) the CB Subscribers are independent                      
    of and not connected with each other. The CB                              
    Subscribers have the same investment manager.