09:29 FE TECH INT'L<00036> - 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. FAR EAST TECHNOLOGY INTERNATIONAL LIMITED (Incorporated in Hong Kong with limited liability) (Website: http://www.fet.com.hk) (Stock Code: 0036) PROGRESS OF THE CAPITAL REORGANISATION AND REVISED EXPECTED TIMETABLE SUMMARY The Company attended the hearing of the summons for directions before the Court on 4 January, 2005 and pursuant to the directions given by the Court at the said hearing, among other things, the Petition is now scheduled to be heard by the Court on Tuesday, 25 January, 2005. Assuming the Court makes the Confirming Order and all the other conditions set out in the Circular have been fulfilled, the Capital Reorganisation will take effect upon the registration of the Confirming Order and the Minute. On such basis, the trading arrangements in respect of dealings in the Company's existing Shares and the Adjusted Shares on the Stock Exchange will be implemented in accordance with the indicative timetable set out below. Warning: Shareholders and investors should note that the outcome of the hearing of the Petition is entirely within the jurisdiction of the Court, which may exercise its discretion to grant or not grant the Confirming Order as it sees fit. The timetable below will not be implemented if the Petition is not heard by the Court or the Court does not make the Confirming Order on 25 January, 2005. Further announcement(s) will be made by the Company on the outcome of the Court hearing and/or the precise timetable for the implementation of the Capital Reorganisation, where appropriate. Reference is made to the announcements dated 26 August, 2004 and 18 October, 2004 and the supplemental circular dated 27 August, 2004 (the "Circular") issued by Far East Technology International Limited (the "Company"). Capitalised terms used herein have the same meanings as defined in the Circular unless the context requires otherwise. PETITION The Company attended the hearing of the summons for directions before the Court on 4 January, 2005 and pursuant to the directions given by the Court at the said hearing, among other things, the petition for the confirmation of the Capital Reduction (the "Petition") is now scheduled to be heard by the Court on Tuesday, 25 January, 2005. The Capital Reorganisation is conditional, among other things, on the confirmation of the Capital Reduction by the Court (the "Confirming Order") and the Capital Reorganisation will take effect upon the registration by the Company with the Registrar of Companies in Hong Kong of an office copy of the Confirming Order and the minute containing the particulars required under Section 61 of the Companies Ordinance (the "Minute"). INDICATIVE TIMETABLE FOR IMPLEMENTATION OF THE CAPITAL REORGANISATION Assuming the Court makes the Confirming Order on Tuesday, 25 January, 2005, set out below is the expected timetable for the implementation of the Capital Reorganisation, including the trading arrangement for the existing Shares and the Adjusted Shares and the free exchange of the certificates for the Adjusted Shares. Shareholders and investors should note that the outcome of the hearing of the Petition is entirely within the jurisdiction of the Court, which may exercise its discretion to grant or not grant the Confirming Order as it sees fit. The timetable below will not be implemented if the Petition is not heard by the Court or the Court does not make the Confirming Order on 25 January, 2005. 2005 Hearing of the Petition for confirmation of the Capital Reduction by the Court Tuesday, 25 January