09:17     MAN YUE INT'L<00894> - Announcement (3)                             

    "JV Partner"   #, the PRC joint venture                                   
    partner who owns 18.33% equity interests in Wuxi Heli                     
                                                                              
    "Listing Rules"   the Rules Governing the Listing of                      
    Securities on the Stock Exchange                                          
                                                                              
    "PRC"   the People's Republic of China                                    
                                                                              
    "RMB"   Renminbi, the lawful currency of the PRC (where                   
    applicable, was converted into HK$ for the sole purpose of                
    reference at a rate of RMB1.06 per HK$1.00)                               
                                                                              
    "Sale and Purchase Agreement"   The agreement dated 30                    
    December 2004 entered into between Johnstone International                
    and the JV Partner pursuant to which Johnstone International              
    has agreed to purchase and the JV Partner has agreed to sell              
    18.33% equity interests in Wuxi Heli                                      
                                                                              
    "Share(s)"   ordinary share(s) of par value HK$1.00 each in               
    the capital of the Company                                                
                                                                              
    "Stock Exchange"   The Stock Exchange of Hong Kong Limited                
                                                                              
    "Wuxi Heli"   Wuxi Heli Electronic Co., Ltd. (#),                         
    a sino-foreign equity joint venture company                               
    established under the laws of the PRC                                     
                                                                              
    On behalf of the Board                                                    
    Man Yue International Holdings Limited                                    
    Chan Ho Sing                                                              
    Chairman                                                                  
                                                                              
    Hong Kong, 7 January 2005                                                 
                                                                              
    As at the date of this announcement, the board of Directors               
    of the Company comprises Mr. Chan Ho Sing and Mr. Ko Pak On               
    as executive Directors, and Dr. Li Sau Hung, Eddy, Mr. Lo Kwok            
    Kwei, David and Mr. Mar Selwyn as independent non-executive               
    Directors.                                                                
                                                                              
    # For the Chinese name, please refer to the press announcement today.