09:08     UNITED POWER<00674> - Unusual price & volume movements              

    The Stock Exchange has received a message from United Power Investment    
    Limited which is reproduced as follows:-                                  
                                                                              
    "This statement is made at the request of The Stock Exchange of Hong Kong 
    Limited.                                                                  
                                                                              
    The board of directors of the Company noted the recent decrease in the    
    price and increase in trading volume of the shares of the Company and wish
    to state that the directors of the Company are not aware of any reasons   
    for such movement.                                                        
                                                                              
    The Company confirms that save as disclosed in the announcement of the    
    Company dated 6th January, 2005, 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.                                                 
                                                                              
                                                                              
    By order of the Board                                                     
                                                                              
    Liu Yu Mo                                                                 
    Director                                                                  
                                                                              
    Hong Kong, 7th January, 2005                                              
                                                                              
    The directors of the Company as at the date of this announcement are      
    Messrs. Yeung Chi Hang, Ma Shuk Kam, Liu Yu Mo, Chung Siu Wah, Yeung Kit  
    Yu, Kitty, Au, Edmond Wah, Chan Lai Mei, Lee Wai Loun and Lee Yuk Sang,   
    Angus."