09:33     MAGICIAN IND<00526>-Announcement & Resumption of Trading(9)         

    The term of office of Ms. Ho will be determined by the                    
    Board and she will be subject to retirement by rotation                   
    and re-election at the annual general meetings of the                     
    Company in accordance with the Bye-laws of the Company.                   
    The director's fee of Ms. Ho shall be determined by                       
    the Board from time to time with reference to he                          
    prevailing range of fees for non-executive directors                      
    of listed companies in Hong Kong.                                         
                                                                              
    Save as disclosed above, Ms. Ho does not hold any                         
    position with the Company and other members of the                        
    Company's group and does not have any relationship                        
    with any other directors, senior management,                              
    substantial shareholders or controlling shareholders                      
    of the Company. As at 14 January 2005, being the date                     
    of the Second Letter, he does not have any beneficial                     
    interest or short position in shares of the Company                       
    within the meaning of Part XV of the SFO.                                 
                                                                              
    Mr. Lee Lok Man, aged 27, has over 3 years working                        
    experience in the field of watch & jewelry packaging.                     
    Mr. Lee holds a Bachelor of Science Degree from the                       
    University of Victoria, Canada. Mr. Lee did not hold                      
    any directorship in any public listed companies in the                    
    last three years.                                                         
                                                                              
    The term of office of Mr. Lee will be determined by                       
    the Board and he will be subject to retirement by                         
    rotation and re-election at the annual general                            
    meetings of the Company in accordance with the                            
    Bye-laws of the Company. The director's fee of Mr. Lee                    
    shall be determined by the Board from time to time with                   
    reference to the prevailing range of fees for                             
    non-executive directors of listed companies in Hong                       
    Kong.                                                                     
                                                                              
    Save as disclosed above, Mr. Lee does not hold any                        
    position with the Company and other members of the                        
    Company's group and does not have any relationship                        
    with any other directors, senior management,                              
    substantial shareholders or controlling shareholders                      
    of the Company. As at 14 January 2005, being the date                     
    of the Second Letter, he does not have any beneficial                     
    interest or short position in shares of the Company                       
    within the meaning of Part XV of the SFO.                                 
                                                                              
    As independent non-executive director of the Company                      
    Mr. Lee Kwan Hung, Eddie, aged 38, graduated from the                     
    University of Hong Kong in 1988 and obtained a                            
    Postgraduate Certificate in Law in 1989. He was                           
    qualified as a solicitor in Hong Kong in 1991 and in                      
    England and Wales in 1997. He was a senior manager of                     
    The Stock Exchange of Hong Kong Limited and is a partner                  
    of Messrs Woo, Kwan, Lee & Lo. Mr. Lee is also                            
    non-executive director of Mirabell International                          
    Holdings Limited. Mr. Lee has acted as independent                        
    non-executive director of New Universe International                      
    Group Limited and Seapower Resources International                        
    Limited and resigned on 26 March 2002 and 22 September                    
    2004 respectively. Save as disclosed above, Mr. Lee                       
    did not hold any other directorships in any listed                        
    public companies in the last three years.                                 
                                                                              
    The term of office of Mr. Lee will be determined by                       
    the Board and he will be subject to retirement by                         
    rotation in accordance with the Bye-laws of the                           
    Company. The director's fee for Mr. Lee shall be                          
    determined by the Board from time to time with                            
    reference to the prevailing range of fees for                             
    independent non-executive directors of listed                             
    companies in Hong Kong. Mr. Lee does not have any                         
    interest in shares in the Company within the meaning                      
    of Part XV of the SFO nor has any relationship with                       
    any directors senior management, substantial or                           
    controlling shareholders of the Company. Mr. Lee does                     
    not hold any position with the Company and its                            
    subsidiaries