09:29 MAGICIAN IND<00526>-Announcement & 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 however arising from or in reliance upon the whole or any part of the contents of this announcement. MAGICIAN INDUSTRIES (HOLDINGS) LIMITED (Incorporated in Bermuda with limited liability) (Stock Code: 526) Appointment of Company Secretary Replacement of Chairman of the Company Termination of existing service agreements with directors and Changes in Board Composition, Recent Developments including the Convening of Special General Meeting and Resumption of Trading Appointment of Company Secretary, replacement of Chairman, termination of existing service agreements with directors and changes in Board composition The Board is pleased to announce that, on 10 December 2004, the Board had resolved, amongst other things, (a) to appoint Mr. Kwong Alvin Lin-pik as the Company Secretary, (b) to appoint Mr. Will Hoon Wee Teng to replace Mr. Kong Yick Ming as the Chairman of the Company, (c) to terminate the existing service agreements between the Company and each of Mr. Kong Yick Ming and Mr. Ku Ling Yu, John and (d) to redesignate Mr. Kong Yick Ming and Mr. Ku Ling Yu, John as non-executive directors of the Company, and to appoint Mr. Patrick Zee as a director of the Company and to designate him as an executive director of the Company. Recent developments including the Convening of Special General Meeting Reference is made to the circular and notice both dated 6 December 2004 in relation to the 24 December SGM for the purposes of the appointment of two additional independent non-executive directors and fixing the maximum number of directors of the Company. The Company had been advised by its legal advisers that the convening of the 24 December SGM was invalid on the basis that the dispatch of the notice of the meeting was not approved by the Board. The Company issued an announcement dated 21 December 2004 to this effect and stated that the 24 December SGM would not take place. Further, on 23 December 2004, the Company obtained an injunction from the High Court of Hong Kong restricting Messrs. Kong, Ku and Chan and Ms. Katrina Kok Zhi Yi from holding or purporting to hold the 24 December SGM. Accordingly, the 24 December SGM was not convened and did not take place. Further to the Requisition Notice, Primewell Investment Limited and Ms. Chan Ying Gi, Dorice published the Letter and Notice both dated 11 January 2005 in The Standard and Sing Tao Daily of the same date convening a special general meeting of the Company for the purposes of the appointment of two additional independent non-executive directors and the fixing of a maximum number of directors of the Company. The meeting convened by these shareholders of the Company is to be held on 1 February 2005 at 9:00 a.m. at Basement, Function Room II, Luk Kwok Hotel, 72 Gloucester Road, Wanchai, Hong Kong. In addition, on 12 January 2005, Ms. Chan Ying Gi, Dorice served a notice pursuant to Bye-law 88 of the Company's Bye-laws, of her intention to propose at the special general meeting to be held on 1 February 2005 a further six persons to be appointed as non-executive directors of the Company. On 14 January 2005, Ms. Chan Ying Gi, Dorice, on behalf of Primewell Investment Limited and on her own behalf, has published the Second Letter dated the same date in The Standard and Sing Tao Daily setting out the biographical details of the six persons proposed to be appointed as non-executive directors of the Company. The biographical details of the persons proposed to be appointed as directors of the Company at the special general meeting to be held on 1 February 2005 are set out at the end of this announcement.