09:15     CHINA ELEGANCE<00476> - 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.                                                             
                                                                              
    CHINA ELEGANCE (HOLDINGS) LIMITED                                         
    (Incorporated in Bermuda with limited liability)                          
    (Stock Code: 476)                                                         
                                                                              
    RESULTS OF THE SPECIAL GENERAL MEETING HELD ON 17 JANUARY 2005            
                                                                              
    The Board is pleased to announce that the ordinary resolution             
    to approve the Disposal Agreement and the Disposal contemplated           
    therein and to authorize the Directors to do all acts and things          
    necessary for the implementation and the perfection of the                
    Disposal Agreement in respect of the Company's major and                  
    connected transaction concerning the disposal of its entire               
    interest in Chang Yuang Resources Limited, was duly passed by             
    Independent Shareholders by way of poll at the SGM held on 17             
    January 2005.                                                             
                                                                              
    Reference is made to the Notice of the Special General Meeting            
    ("SGM") dated 24 December 2004 (the "Notice") of China Elegance           
    (Holdings) Limited (the "Company") and the circular dated 24              
    December 2004 (the "Circular") of the Company. Unless otherwise           
    defined herein, terms used herein shall have the same meaning             
    as defined in the Notice and the Circular.                                
                                                                              
    The board of directors (the "Board") of the Company is pleased            
    to announce that the ordinary resolution to approve the Disposal          
    Agreement, the Disposal and to authorize the Directors to do all          
    acts and things necessary for the implementation, the execution           
    and the perfection of the Disposal Agreement, proposed at the             
    SGM held on 17 January 2005 was duly passed by Independent                
    Shareholders by way of poll at the SGM. The vote-taking at the            
    SGM was scrutinized by the Branch Registrar of the Company in             
    Hong Kong, Tengis Limited. Details of the voting are set out              
    below:                                                                    
                                                                              
    Ordinary Resolution                                                       
                                                                              
    Votes entitled to vote                                                    
    No. of votes entitling to vote for/against                                
                                                                              
    Votes present                                                             
    No. of votes attended to vote for/against                                 
                                                                              
    Voting Result                                                             
    No. of votes for (%)                                                      
    No. of votes against (%)                                                  
                                                                              
    To ratify, confirm and approve the Disposal Agreement and the             
    Disposal contemplated; and to authorize the Directors to do all           
    acts and things necessary for the implementation and completion           
    of the Disposal Agreement                                                 
    880,296,800   453,698,469   453,698,469   0                               
    (100%)   (0%)                                                             
                                                                              
    As at the date of the SGM, the issued share capital of the Company        
    comprised 883,296,800 Shares of which 3,000,000 Shares are held           
    by Mr. Wu and his associates, which represents approximately              
    0.34% of the issued share capital of the Company; and the Board           
    confirmed that Mr. Wu and his associates were the only                    
    Shareholders who were required to abstain from voting at the SGM.         
                                                                              
    By Order of the Board                                                     
    Cheung Ngan                                                               
    Chairman                                                                  
                                                                              
    Hong Kong, 17 January 2005                                                
                                                                              
    As at the date hereof, the executive Directors of the Company             
    are Mr. Cheung Ngan and Mr. Chan Chung Chun Arnold; and the               
    independent non-executive Directors are Mr. Li Chao De, Mr. Hu            
    Guang and Mr. Chan Francis Ping Kuen.