09:03     GRANEAGLE HOLD<00147> - Unusual price & volume movements            

    The Stock Exchange has received a message from Graneagle 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 decreases in the price and increase in the       
    trading volume of the shares of the Company and wish to state that we are 
    not aware of any reasons for such decreases in share price and increases  
    in trading volume.                                                        
                                                                              
    We confirm that there are no negotiations or agreements relating to       
    intended acquisitions or realizations 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 Graneagle Holdings Limited the Board of the directors
    of which individually and jointly accept responsibility for the accuracy  
    of this statement.                                                        
                                                                              
    As at the date of this announcement, the Board comprises Mr. Ling Tai Yuk,
    John, Mr. Kong Ho Pak, Mr. Pang Hon Chung as executive directors, Mr. Ng  
    Tze Kin, David as    non-executive directors, Mr. James Keir, Mr. Lee Tsoh
    Ching, Jonathan and Mr. Wu Kin Kwok as independent non-executive          
    directors.                                                                
                                                                              
                                                                              
    For and on behalf of                                                      
    The Board of Directors of                                                 
    Graneagle Holdings Limited                                                
                                                                              
    Amy Tam                                                                   
    Company Secretary                                                         
                                                                              
    January 7, 2005"