08:59     MAE HOLDINGS<00851> - Unusual price & volume movements              

    The Stock Exchange has received a message from MAE 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 decreases in the price and increases in the trading     
    volume of the shares of the Company as at today and wish to state that we 
    are not aware of any reasons for such decreases in the price and increases
    in the trading volume.                                                    
                                                                              
    We also confirm 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 matter 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 MAE HOLDINGS LIMITED, the Board of      
    directors 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
    comprises Mr. Lo Wai Shing Felix, Mr. Lau Kevin and Ms. Leung Wai Kuen    
    Cerene as executive directors, and Mr. Yeong Yun Hong Gary, Mr. Chu Chin  
    Fan and Ms. Yan Po Kwan as independent non-executive directors.           
                                                                              
                                                                              
    By Order of the Board                                                     
    MAE HOLDINGS LIMITED                                                      
                                                                              
    Lo Wai Shing Felix                                                        
    Director                                                                  
                                                                              
    7 January 2005"