09:48     ALPHA GENERAL (HOLDINGS) LIMITED<00073> - Announcement (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.                                                     
                                                                              
    ALPHA GENERAL (HOLDINGS) LIMITED                                          
    (Incorporated in Bermuda with limited liability)                          
    (Stock code: 73)                                                          
                                                                              
    ANNOUNCEMENT                                                              
                                                                              
    PRIVATISATION OF ALPHA GENERAL (HOLDINGS) LIMITED                         
    BY WAY OF A SCHEME OF ARRANGEMENT                                         
                                                                              
    AND                                                                       
                                                                              
    WITHDRAWAL OF LISTING                                                     
                                                                              
    Financial adviser to                                                      
    Alpha General (Holdings) Limited                                          
                                                                              
    ACCESS CAPITAL                                                            
                                                                              
    The Company wishes to announce that:                                      
                                                                              
    *       the Scheme was sanctioned by the Court on 7 January               
    2005 and became effective on 7 January 2005 upon the                      
    delivery of a copy of the order of the Court                              
    sanctioning the Scheme to the Registrar of Companies                      
    in Bermuda on that date for registration;                                 
                                                                              
    *       the listing of the Shares on the Stock Exchange                   
    will be withdrawn with effect from 9:30 a.m. on 10                        
    January 2005; and                                                         
                                                                              
    *       cheques for cash payment under the Scheme and the                 
    Share Option Proposal will be dispatched on or before                     
    10 January 2005.                                                          
                                                                              
    INTRODUCTION                                                              
                                                                              
    The Board refers to the announcement dated 20 December                    
    2004 made by the Company in relation to the results                       
    of the Court Meeting and the Special General Meeting                      
    issued by the Company with regard to the privatisation                    
    of the Company by way of a Scheme of Arrangement as                       
    described in the Scheme Document dated 26 November                        
    2004 (the "Scheme Document"). Terms defined in the                        
    Scheme Document shall have the same meanings when used                    
    herein unless the context requires otherwise.                             
                                                                              
    EFFECTIVE DATE OF THE SCHEME                                              
                                                                              
    The Scheme was sanctioned by the Supreme Court of                         
    Bermuda (the "Court") on 7 January 2005 (Bermuda time)                    
    and became effective on 7 January 2005 upon the                           
    delivery of a copy of the order of the Court                              
    sanctioning the Scheme to the Registrar of Companies                      
    in Bermuda on that date for registration.                                 
                                                                              
    WITHDRAWAL OF LISTING OF SHARES AND DESPATCH OF                           
    CHEQUES                                                                   
                                                                              
    The listing of the Shares on The Stock Exchange of                        
    Hong Kong Limited will be withdrawn with effect from                      
    9:30 a.m. on 10 January 2005. Cheques for cash payment                    
    under the Scheme and the Share Option Proposal will                       
    be dispatched on or before 10 January 2005.                               
                                                                              
    For enquiries with regard to the aforesaid cheques,