09:34     HOPEFLUENT<00733> - Announcement & Resumption of Trading (3)        

    place within two (2) business days from the date of                       
    the FF Placing Agreement or such other time, date and                     
    place as may be agreed by the parties thereto.                            
                                                                              
    CN PLACING AGREEMENT                                                      
                                                                              
    The CN Placing Agreement was made between China-net                       
    Holding Ltd. and Value Partners on 17 January 2005                        
    pursuant to which China-net Holding Ltd. agreed to                        
    place and Value Partners agreed to procure the Funds                      
    to purchase 2,000,000 existing Shares at the Placing                      
    Price.                                                                    
                                                                              
    Parties                                                                   
                                                                              
    (1)     China-net Holding Ltd. is wholly owned by Mr.                     
    Fu. Prior to the Placing and Subscription, China-net                      
    Holding Ltd. owned 8,100,000 Shares representing 4.5%                     
    of the existing issued share capital of the Company.                      
    Upon completion of the Placing and Subscription,                          
    China-net Holding Ltd. will own 6,100,000 Shares                          
    representing approximately 3.14% of the issued share                      
    capital of the Company as enlarged by the                                 
    Subscription.                                                             
                                                                              
    (2)     Value Partners, who will procure the Funds to                     
    purchase the 2,000,000 existing Shares. 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.                                                           
                                                                              
    Placing shares                                                            
                                                                              
    2,000,000 existing Shares placed represented                              
    approximately 1.11% of the existing issued share                          
    capital of the Company and will represent                                 
    approximately 1.03% of the issued share capital of                        
    the Company as enlarged by the Subscription.                              
                                                                              
    Completion of the CN Placing Agreement                                    
                                                                              
    The CN Placing Agreement is conditional upon the                          
    absence of any breach of the representations or                           
    warranties by China-net Holding Ltd. set out in the                       
    CN Placing Agreement. Completion of the placing is                        
    to take place within two (2) business day from the                        
    date of the CN Placing Agreement or such other time,                      
    date and place as may be agreed by the parties thereto.                   
                                                                              
    BH PLACING AGREEMENT                                                      
                                                                              
    The BH Placing Agreement was made between Best Hunt                       
    Group Limited and Value Partners on 17 January 2005                       
    pursuant to which Best Hunt Group Limited agreed to                       
    sell and Value Partners agreed to procure the Funds                       
    to purchase 2,000,000 existing Shares at the Placing                      
    Price.                                                                    
                                                                              
    Parties                                                                   
                                                                              
    (1)     Best Hunt Group Limited is wholly owned by Mr.                    
    Lo. Prior to the Placing and Subscription, Best Hunt                      
    Group Limited owned 8,100,000 Shares representing                         
    4.5% of the existing issued share capital of the                          
    Company. Upon completion of the Placing and