09:33     HOPEFLUENT<00733> - Announcement & Resumption of Trading (2)        

    At the request of the Company, trading in Shares on                       
    the Stock Exchange was suspended from 9:30a.m. on                         
    Tuesday, 18 January 2005 pending the release of this                      
    announcement. Application has been made by the                            
    Company to the Stock Exchange for the resumption of                       
    trading in Shares on the Stock Exchange with effect                       
    from 9:30a.m. on Wednesday, 19 January 2005.                              
                                                                              
    FF PLACING AGREEMENT                                                      
                                                                              
    The FF Placing Agreement was made between Fu's Family                     
    and Value Partners on 17 January 2005 pursuant to                         
    which Fu's Family agreed to place and Value Partners                      
    agreed to procure the Funds to purchase 14,000,000                        
    existing Shares at the Placing Price. On the same day,                    
    the Company and Fu's Family entered into the                              
    Subscription Agreement whereby the Company                                
    conditionally agreed to issue and allot and Fu's                          
    Family conditionally agreed to subscribe for                              
    14,000,000 new Shares at HK$1.38 per Share.                               
                                                                              
    Parties                                                                   
                                                                              
    (1)     Fu's Family, a substantial shareholder of the                     
    Company, is owned as to 70% by Mr. Fu, 15% by Ms. Ng                      
    and 15% by Ms. Fu. Prior to the Placing and                               
    Subscription, Fu's Family owned 91,800,000 Shares                         
    representing 51% of the existing issued share capital                     
    of the Company. Upon completion of the Placing and                        
    Subscription, Fu's Family will own 91,800,000 Shares                      
    representing approximately 47.32% of the issued share                     
    capital of the Company as enlarged by the                                 
    Subscription.                                                             
                                                                              
    (2)     Value Partners, a company incorporated under                      
    the laws of the British Virgin Islands, will procure                      
    the Funds to purchase the 14,000,000 existing Shares.                     
    Prior to the Placing and Subscription, Value Partners                     
    held 5,092,000 Shares, representing 2.83% of the                          
    existing issued share capital of the Company. To the                      
    best knowledge and information of the Directors,                          
    Value Partners and the Funds are not connected persons                    
    (as defined in the Listing Rules) of the Company and                      
    are independent of and not connected with the Company                     
    and its connected persons.                                                
                                                                              
    Placing price                                                             
                                                                              
    HK$1.38 per Share. The Placing Price was determined                       
    after arm's length negotiation between Fu's Family,                       
    China-net Holding Ltd., Best Hunt Group Limited and                       
    Value Partners and represents (i) a discount of                           
    approximately 1.43% of the closing price of HK$1.40                       
    per Share quoted on the Stock Exchange on the Last                        
    Trading Date and a discount of 2.13% over the average                     
    closing price of HK$1.41 per Share on the Stock                           
    Exchange for the last 10 trading days up to and                           
    including the Last Trading Date.                                          
                                                                              
    Placing shares                                                            
                                                                              
    14,000,000 existing Shares placed represented                             
    approximately 7.78% of the existing issued share                          
    capital of the Company and will represent                                 
    approximately 7.22% of the issued share capital of                        
    the Company as enlarged by the Subscription.                              
                                                                              
    Completion of the FF Placing Agreement                                    
                                                                              
    The FF Placing Agreement is conditional upon the                          
    absence of any breach of the representations or                           
    warranties by Fu's Family set out in the FF Placing                       
    Agreement. Completion of the placing is to take