09:32     GORIENT<00729> - Announcement & Resumption (3)                      

    HK$0.08 per Top-up Subscription Share. The Company will bear the costs    
    and expenses in connection with the Placing and the Top-up                
    Subscription. The estimated expenses for the Placing and the Top-up       
    Subscription will be approximately HK$0.9 million, resulting in the net   
    price of approximately HK$0.077 per Top-up Subscription Share.            
                                                                              
    General Mandate to issue Top-up Subscription Shares                       
                                                                              
    The Top-up Subscription Shares will be issued pursuant to the General     
    Mandate. Upon completion of the Top-up Subscription, there will be        
    8,699,433 Shares remaining under the General Mandate. At the AGM, it      
    was also approved that the authorized share capital of the Company be     
    increased to HK$500,000,000 divided into 50,000,000,000 Shares which is   
    sufficient for the Top-up Subscription. There will be 1,727,177,166       
    Shares in issue, representing approximately 3.45% of the authorized       
    share capital of the Company, upon completion of the Top-up               
    Subscription.                                                             
                                                                              
    Ranking of the Top-up Subscription Shares                                 
                                                                              
    The Top-up Subscription Shares, when fully paid, will rank equally with   
    the Shares in issue or to be issued at the time of issue and allotment    
    of the Top-up Subscription Shares.                                        
                                                                              
    Use of Proceeds                                                           
                                                                              
    The net proceeds from the Top-up Subscription of approximately HK$19.9    
    million will be used by the Group as to 30% as working capital and 70%    
    for any future possible acquisition of the Group, which is yet to be      
    identified.                                                               
                                                                              
    Condition of the Top-up Subscription                                      
                                                                              
    The Top-up Subscription is conditional upon:                              
                                                                              
    (a)  completion of the Placing; and                                       
                                                                              
    (b)  the Listing Committee of the Stock Exchange granting listing of,     
    and permission to deal in, the Top-up Subscription Shares to be issued    
    under the Top-up Subscription.                                            
                                                                              
    Completion                                                                
                                                                              
    Under the Listing Rules, the Top-up Subscription must be completed        
    within 14 days from the date of the Placing Agreement, that is, on or     
    before 19 January 2005 (or such later date as the Company and the         
    Vendor may agree subject to compliance with all requirements in           
    relation to connected transaction under the Listing Rules), failing       
    which the Top-up Subscription shall cease and terminate.                  
                                                                              
    Application for listing                                                   
                                                                              
    Application will be made by the Company to the Stock Exchange to grant    
    the listing of and permission to deal in the Top-up Subscription Shares.  
                                                                              
    C.  Effects of the Placing and the Top-up Subscription                    
                                                                              
    The shareholding structure of the Company immediately before completion   
    of the Placing, immediately after completion of the Placing but before    
    completion of the Top-up Subscription, and immediately after completion   
    of both the Placing and the Top-up Subscription are and will be as        
    follows:                                                                  
                                                                              
      Shares held   Shares held   Shares held                                 
      immediately before   immediately after   immediately after              
      the Placing   the Placing but   the Placing and                         
      and the Top-up   before the Top-up   the Top-up                         
      Subscription  Subscription  Subscription                                
      (approximate   (approximate  (approximate                               
      shareholding)  shareholding)  shareholding)                             
       (Note 1)  (Note 1)  (Note 1)                                           
                                                                              
    The Vendor (Note 2)  516,867,920  256,867,920  516,867,920                
      (35.23%)  (17.51%)  (29.93%)                                            
                                                                              
    CITIC International Assets  208,000,000  208,000,000  208,000,000         
      Management Limited  (14.18%)  (14.18%)  (12.04%)                        
                                                                              
    Gouw Hiap Kian  5,240,000  5,240,000  5,240,000                           
      (personal interest)  (0.36%)  (0.36%)  (0.30%)                          
                                                                              
    Lo Mun Lam, Raymond  2,400,000  2,400,000  2,400,000                      
      (Note 3)  (0.16%)  (0.16%)  (0.14%)