09:09     RADFORD CAPITAL<00901> - Unusual price & volume movements           

    The Stock Exchange has received a message from Radford Capital Investment 
    Limited which is reproduced as follows:-                                  
                                                                              
    "This statement is made at the request of The Stock Exchange of Hong Kong 
    Limited.                                                                  
                                                                              
    We have noted today's decrease in price and increase in trading volume of 
    the shares of the Company and wish to state that we are not aware of any  
    reasons for such movement.                                                
                                                                              
    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 order of the Board of Radford Capital Investment Limited, the     
    directors of which individually and jointly accept responsibility for the 
    accuracy of this statement.                                               
                                                                              
    Currently, the board of directors of the Company comprises Mr. Chung Yuk  
    Lun, Ms. Ma Chi Wing, Mr. Greer Thomas Francis Jr. and Mr. Nakajima       
    Toshiharu as executive directors; Mr. Chan Sze Hung, Dr. Lin Michael, Mr. 
    Shimazaki Koji, Mr. Wong Kai Cheong and Ms. Kwok Wai Ming as independent  
    non-executive directors.                                                  
                                                                              
                                                                              
    By order of the Board of                                                  
    Radford Capital Investment Limited                                        
                                                                              
    Company Secretary                                                         
    Tong So Yuet                                                              
                                                                              
    7th January 2005"