09:36     DYNASTY FINE WINES GROUP LIMITED<00828> - Announcement (1)          

    The Stock Exchange of Hong Kong Limited (the ``Stock Exchange'') and      
    Hong Kong Securities Clearing Company Limited (``HKSCC'') take no         
    responsibility for the contents of this announcement, make no             
    representation as to its accuracy or completeness and expressly           
    disclaim any liability whatsoever for any loss howsoever arising          
    from or in reliance upon the whole or any part of the contents of         
    this announcement.                                                        
                                                                              
    This announcement appears for information purposes only and does not      
    constitute an invitation or offer to acquire, purchase or subscribe       
    for securities.                                                           
                                                                              
    Unless otherwise defined herein, terms used in this announcement          
    shall have the same meanings as those defined in the prospectus           
    issued by Dynasty Fine Wines Group Limited (the ``Company'') dated        
    17 January 2005 (the ``Prospectus'').                                     
                                                                              
    Dynasty Fine Wines Group Limited                                          
    (incorporated in the Cayman Islands with limited liability)               
                                                                              
    PLACING AND PUBLIC OFFER                                                  
                                                                              
    Number of Offer Shares under the Share Offer   :                          
    300,000,000 (subject to reallocation and the Over-allotment Option)       
                                                                              
    Number of Hong Kong Public Offer Shares   :   30,000,000 (subject         
    to reallocation)                                                          
                                                                              
    Offer Price   :   not more than HK$2.25 per Offer Share (payable in       
    full on application and subject to refund) and not less than HK$1.75      
    per Offer Share                                                           
                                                                              
    Nominal value   :   HK$0.1 per Share                                      
                                                                              
    Stock code   :   828                                                      
                                                                              
    Sponsor                                                                   
                                                                              
    Deloitte & Touche Corporate Finance Ltd.                                  
                                                                              
    Global Coordinator, Bookrunner and Lead Manager                           
                                                                              
    ABN-AMRO ROTHSCHILD                                                       
                                                                              
    Senior Co-managers                                                        
                                                                              
    BNP Paribas Peregrine Capital Limited                                     
    Pacific Foundation Securities Limited                                     
                                                                              
    Tai Fook Securities Company Limited                                       
                                                                              
    Co-manager                                                                
                                                                              
    First Shanghai Securities Limited                                         
                                                                              
    Application has been made to the Listing Committee of the Stock           
    Exchange (the ``Listing Committee'') for the granting of the listing      
    of, and permission to deal in, the Shares in issue and to be issued       
    as described in the Prospectus. Dealings in the Shares are expected       
    to commence on Wednesday, 26 January 2005. Subject to the granting        
    of the listing of, and permission to deal in, the Shares in issue         
    and to be issued as described in the Prospectus (including the            
    additional Shares, if any, to be issued pursuant to the exercise of       
    the Over-allotment Option) and any Shares which may be issued             
    pursuant to the exercise of the options which may be granted under        
    the Share Option Scheme, as well as compliance with the stock             
    admission requirements of HKSCC, the Shares will be accepted as           
    eligible securities by HKSCC for deposit, clearance and settlement        
    in the CCASS with effect from the commencement date of dealings in        
    the Shares on the Stock Exchange, or such other date as may be            
    determined by HKSCC. All activities under CCASS are subject to the        
    General Rules of CCASS and the CCASS Operational Procedures in effect     
    from time to time.                                                        
                                                                              
    The Company intends to initially make available up to 300,000,000         
    Offer Shares under the Share Offer, of which 234,000,000 Offer Shares     
    will be conditionally placed pursuant to the International Placing,       
    36,000,000 Offer Shares will be offered to the Qualifying Tianjin         
    Shareholders pursuant to the Preferential Offering and the remaining      
    30,000,000 Offer Shares will be offered to the public in Hong Kong        
    at the Offer Price under the Hong Kong Public Offering.