09:08     CGD HOLDINGS<00162> - Unusual price & volume movements              

    The Stock Exchange has received a message from China Golden Development   
    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 increase in trading volume of
    the shares of the Company today and wish to state that we are not aware of
    any reasons for the decreases in the price and increase in trading volume 
    of the shares.                                                            
                                                                              
    Save as disclosed in the announcement of the Company dated 4th January    
    2005, 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 China Golden Development Holdings       
    Limited the directors of which individually and jointly accept            
    responsibility for the accuracy of this statement.                        
                                                                              
    The board of directors of China Golden Development Holdings Limited       
    comprises six executive Directors, namely, Messrs. Wu Yijian, Sean Liu, Mo
    Keung, Qin Chuan, Xu Kai and Chan Wing Yau George and four independent    
    non-executive Directors, namely, Messrs. Paul Zhong, Hu Yang Xiong, Chan  
    Wai Kwong Peter and Kwok Wing Wah.                                        
                                                                              
                                                                              
    Chan Wing Yau George                                                      
                                                                              
    7th January 2005"