10:05     <00201><00219><00253>-Joint Ann & Resumption of Trading (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.                   
                                                                              
    MAGNIFICENT ESTATES LIMITED                                               
    (incorporated in Hong Kong with limited liability)                        
    (Stock Code: 201)                                                         
                                                                              
    MAJOR TRANSACTION                                                         
                                                                              
    SHUN HO TECHNOLOGY HOLDINGS LIMITED                                       
    (incorporated in Hong Kong with limited liability)                        
    (Stock Code: 219)                                                         
                                                                              
    MAJOR TRANSACTION                                                         
                                                                              
    SHUN HO RESOURCES HOLDINGS LIMITED                                        
    (incorporated in Hong Kong with limited liability)                        
    (Stock Code: 253)                                                         
                                                                              
    ACQUISITION OF SALE ASSETS                                                
                                                                              
    The Boards are pleased to announce that the Purchaser, an indirect        
    wholly-owned subsidiary of Magnificent Estates had on 28 December 2004    
    entered into the Provisional Agreement with the Vendor for the purchase   
    of the Sale Assets for a total consideration of HK$242,000,000.           
                                                                              
    The Sale Assets comprise of (a) the Yuki Share; (b) the Longluck Share;   
    and (c) the Sale Debt. Pursuant to the Provisional Agreement, subject     
    to the fulfillment of the Condition, (i) the Vendor as the beneficial     
    owner agreed to sell the Sale Shares to the Purchaser; and (ii) the       
    Vendor agreed to sell its benefits and interests of and in the Sale       
    Debt to the Purchaser.                                                    
                                                                              
    The major assets of Yuki and Longluck comprise of (a) Yuki's 99%          
    shareholding in the issued share capital of the Project Company; (b)      
    Longluck's 1% shareholding in the issued share capital of the Project     
    Company; and (c) all the interest and benefits of Yuki in the             
    shareholder's loan owing by the Project Company to Yuki (which is         
    interest-free and repayable on demand). The Project Company (being a      
    company incorporated in Macau on 2 March 1990) is in turn the             
    registered owner of the whole of the leasehold over the Property          
    situate at ilha da Taipa, near Rotunda Ouvidor Arriaga, Macau (formerly   
    known as antiga Estrada do Coronel Mesquita) and is the registered        
    owner of the newly completed hotel constructed thereon known as "Taipa    
    Hotel *".                                                                 
                                                                              
    Magnificent Estates, Shun Ho Technology and Shun Ho Resources are all     
    listed on the Stock Exchange. Shun Ho Resources controls over 50% of      
    the total voting rights of Shun Ho Technology, which in turn controls     
    over 50% of the total voting rights of Magnificent Estates.               
                                                                              
    Completion of the Acquisition is conditional upon the issuance of a       
    certificate by the Macau Government (*) ("Property Registration           
    Bureau"*) to the Project Company confirming that the Project Company is   
    the registered owner of the whole of the leasehold over the Property.     
                                                                              
    The Acquisition as contemplated by the Provisional Agreement              
    constitutes a major transaction for both Magnificent Estates and Shun     
    Ho Technology under the Listing Rules and requires shareholders'          
    approval. Although shareholders' approval for the Acquisition is          
    required pursuant to Rule 14.40 of the Listing Rules, written approval    
    for the Acquisition has already been obtained by Magnificent Estates      
    from Shun Ho Technology and by Shun Ho Technology from Omnico Company     
    Inc. respectively, both being shareholders who control more than 50% in   
    the nominal value of the securities giving the right to attend and vote   
    at general meetings of the respective companies. As no shareholders of    
    either Magnificent Estates or Shun Ho Technology are required to          
    abstain from voting at a general meeting to approve the Acquisition,      
    subject to a clean audit opinion in the required accountants' reports     
    (which will be included in the relevant circulars to be despatched to     
    shareholders), such written shareholders' approval will be accepted in    
    lieu of a majority vote at a general meeting of Magnificent Estates and   
    Shun Ho Technology and thus Rule 14.40 of the Listing Rules will be       
    fulfilled.                                                                
                                                                              
    For Shun Ho Resources, as the Acquisition as contemplated by the          
    Provisional Agreement constitutes a very substantial acquisition,         
    pursuant to Rule 14.49 of the Listing Rules such Acquisition has to be    
    made conditional on the approval of the Shun Ho Resources Shareholders.   
    However the Acquisition was not entered into subject to shareholders'     
    approval. The board of directors of Shun Ho Resources are of the view