09:11     NEOLINK CYBER<08116>-Announcement&Resumption of Trading (1)         

    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.                         
                                                                              
    NEOLINK CYBER TECHNOLOGY (HOLDING) LIMITED                                
                                                                              
    (Incorporated in the Cayman Islands with limited                          
    liability)                                                                
    (Stock Code: 8116)                                                        
                                                                              
    Major Transaction and Continuing Connected Transactions                   
                                                                              
    The Board is pleased to announce that on 27 December 2004,                
    the Company, China Gocom and Pem-America entered into the                 
    Subscription Agreement in respect of a subscription of                    
    33,333 shares in China Gocom by Pem-America for a                         
    consideration of HK$23 million. Moreover, Neolink                         
    Intercity, a wholly-owned subsidiary of China Gocom, also                 
    entered into the Exclusive Services Agreement and the                     
    Licence Agreement on 27 December 2004 for the carrying                    
    out of the CarBase project. The CarBase project refers                    
    to all products, technology, solutions and the respective                 
    derivative intangible assets relating to the provision                    
    of call centre services and vehicle telematic information                 
    services. It aims to provide drivers and passengers                       
    comprehensive telematic information services in relation                  
    to navigation, safety, entertainment and business.                        
                                                                              
    The Subscription Agreement will raise fund, through the                   
    subscription of shares in China Gocom by Pem-America, for                 
    the development and commercialisation of the CarBase                      
    project without exerting a pressure on the Group for the                  
    provision for such fund. The Licence Agreement enables                    
    Neolink Intercity to produce and sell suitable terminals                  
    to be installed in vehicles so that value-added services                  
    under the CarBase project can be provided to drivers and                  
    passengers. The Exclusive Services Agreement engages                      
    Haoyuan Yingte, a licensed operator permitted to provide                  
    telephone information services through the public                         
    telephone network in the PRC, for the provision of a                      
    telemedia platform to enable subscribers of the CarBase                   
    project to obtain the various value-added services under                  
    the CarBase project. The Directors, including the                         
    independent non-executive directors, consider that the                    
    Subscription Agreement, the Licence Agreement and the                     
    Exclusive Services Agreement are entered into: (i) in the                 
    ordinary and usual course of businesses of the Group; (ii)                
    on an arm's length basis and normal commercial terms; and                 
    (iii) on terms that are fair and reasonable and in the                    
    interests of the Company and its shareholders as a whole.                 
                                                                              
    The Subscription Agreement results in a deemed disposal                   
    of the Group's interest in China Gocom and its subsidiaries               
    and constitutes a major transaction of the Company under                  
    Rule 19.06(3) of the GEM Listing Rules. Accordingly, the                  
    Subscription Agreement is conditional upon, amongst other                 
    things, the approval of the shareholders of the Company.                  
    Since Haoyuan Yingte is jointly owned by associates of                    
    two substantial shareholders of Infonet Group Co., Ltd.,                  
    the controlling shareholder of the Company holding