09:25     SH MING YUAN<00233> - Announcement                                  

    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.                   
                                                                              
    SHANGHAI MING YUAN HOLDINGS LIMITED                                       
     (incorporated in Bermuda with limited liability)                         
    (Stock Code: 0233)                                                        
                                                                              
    DELAY IN DESPATCH OF CIRCULAR                                             
                                                                              
    Despatch of the Circular to the Shareholders in respect of the Disposal   
    will be delayed to a date no later than 21st January, 2005 due to the     
    additional time required to finalize information on result of due         
    diligence exercise to be contained in the Circular. The Company will,     
    however, use it best endeavour to dispatch the Circular as soon as        
    possible.                                                                 
                                                                              
    Reference is made to the announcement of the Company dated 15th           
    December, 2004 (the "Announcement") in relation to the Disposal. Terms    
    used herein shall have the same meaning as ascribed thereto in the        
    Announcement unless the context requires otherwise.                       
                                                                              
    Pursuant to Rule 14.38 of the Listing Rules, the Company is required to   
    dispatch to the Shareholders a circular in respect of the Disposal (the   
    "Circular") within 21 days after the publication of the Announcement,     
    being no later than 5th January, 2005.                                    
                                                                              
    In view of the additional time required to finalize information on        
    result of due diligence exercise to be contained in the Circular, the     
    Board announces that the despatch of the Circular is expected to be       
    delayed. The Board has applied to the Stock Exchange for a waiver from    
    strict compliance with Rule 14.38 of the Listing Rules and it is          
    currently expected that the Circular will be dispatched to the            
    Shareholders on a date no later than 21st January, 2005. The Company      
    will, however, use its best endeavour to dispatch the Circular as soon    
    as possible.                                                              
                                                                              
    The Directors of the Company as at the date of this announcement are as   
    follows:Mr. Yao Yuan, Executive Chairman                                  
    Mr. Chien Hoe Yong, Henry, Executive Director                             
    Mr. Hu Jun, Executive Director                                            
    Dr. Hu Geng Xi, Executive Director                                        
    Mr. Yu Ti Jun, Executive Director                                         
    Dr. Lam Lee G., Independent Non-Executive Director                        
    Mr. Xiao Chuan Guo, Independent Non-Executive Director                    
    Lee Sze Ho, Henry, Independent Non-Executive Director                     
                                                                              
    By Order of the Board                                                     
    Shanghai Ming Yuan Holdings Limited                                       
    *                                                                         
    Kenny Poon                                                                
    Company Secretary                                                         
                                                                              
    Hong Kong, 11th January, 2005                                             
                                                                              
    * For identification purposes only