09:05 REGAL INT'L<00078> - Unusual price & volume movements The Stock Exchange has received a message from Regal Hotels International 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 increases in the price and trading volume of the ordinary shares of Regal Hotels International Holdings Limited (the "Company") and wish to state that we are not aware of any reasons for such increases. 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 of Directors of the Company 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 the Company, the Directors (namely Mr. LO Yuk Sui (Chairman and Managing Director), Dr. Francis CHOI Chee Ming (Vice Chairman and Non-Executive Director), Mr. Donald FAN Tung (Executive Director), Ms. Alice KAN Lai Kuen (Independent Non-Executive Director), Mr. Tommy LAM Chi Chung (Executive Director), Mr. Jimmy LO Chun To (Executive Director), Miss LO Po Man (Executive Director), Mr. Kenneth NG Kwai Kai (Executive Director), Mr. Kai Ole RINGENSON (Non-Executive Director), Mr. WONG Chi Keung (Independent Non-Executive Director), Dr. Alex WU Shu Chih, CBE, LL D, FBIM FIOP, F Inst D, JP (Independent Non- Executive Director) and Ms. Belinda YEUNG Bik Yiu (Executive Director)) of which individually and jointly accept responsibility for the accuracy of this statement. By Order of the Board of REGAL HOTELS INTERNATIONAL HOLDINGS LIMITED Eliza Lam Secretary Hong Kong, 7th January, 2005" The Stock Exchange of Hong Kong Limited takes no responsibility for the contents of this announcement, makes no representation as to its accuracy or completeness and expressly disclaims any liability whatsoever for any loss howsoever arising from or in reliance upon the whole or any part of the contents of this announcement. ZHEJIANG GLASS COMPANY, LIMITED (a joint stock limited company incorporated in the People's Republic of China)(Stock Code: 739) (1) CONNECTED TRANSACTION: ACQUISITION OF LAND USE RIGHTS FROM CONNECTED PERSON AND (2) ONGOING CONNECTED TRANSACTION: SUPPLY OF CEMENT FROM CONNECTED PERSON The Directors wish to announce (i) the Connected Transaction with Hua Hong, a wholly owned subsidiary of Zhejiang Cement, and (ii) the Ongoing Connected Transaction with Zhejiang Cement. The Connected Transaction The Company proposes to acquire the Land Use Rights from Hua Hong for the purpose of constructing two float flat glass production lines, each with a daily melting capacity of 600 tonnes. On 29 December 2004, the Company and Hua Hong entered into the Agreement pursuant to which the Company has agreed to acquire, and Hua Hong has agreed to transfer, the Land Use Rights at a consideration of RMB33,195,266 (equivalent to approximately HK$31,316,000). The Ongoing Connected Transaction On 29 December 2004, the Company and Zhejiang Cement entered into the Master Supply Agreement pursuant to which Zhejiang Cement has agreed to supply such quantity of cement manufactured by it as the Group may order from time to time. Hua Hong is a wholly owned subsidiary of Zhejiang Cement, the registered capital of which is in turn owned as to 61.11% by Mr Feng Guangcheng, the chairman and a substantial shareholder of the Company who is interested in approximately 66.36% in the issued share capital of the Company. Accordingly, the Acquisition and the Ongoing Connected Transaction constitute connected transactions for the Company under the Listing Rules. Pursuant to Rules 14A.32 and 14A.34 of the Listing Rules, the Acquisition and the Ongoing Connected Transaction are only subject to the reporting and announcement requirements under Rules 14A.45 to 14A.47 of the Listing Rules and no independent shareholders' approval is required. Details of the Acquisition and the Ongoing Connected Transaction will be respectively included in the Company's annual report and financial statements for the year ended 31 December 2004 and for the financial years during which the Ongoing Connected Transaction is undertaken by the Group. (A) THE CONNECTED TRANSACTION THE AGREEMENT Date 29 December 2004 Parties (i) the Company (as purchaser); and (ii) Hua Hong (as vendor) Acquisition of the Land Use Rights Pursuant to the Agreement, the Company has agreed to acquire, and Hua Hong has agreed to transfer, the Land Use Rights at a consideration of RMB33,195,266 (equivalent to approximately HK$31,316,000). The Land Use Rights are acquired for the purpose of constructing two float flat glass production lines, each with a daily melting capacity of 600 tonnes. Hua Hong is principally engaged in the manufacturing and sales of cement in the PRC. For the purpose of its direct investment in Shaoxing County, Hua Hong acquired the Land Use Rights directly from the government (i.e. the State Land and Resources Bureau of Shaoxing