09:34     HOPEFLUENT<00733> - Announcement & Resumption of Trading (4)        

    Subscription, Best Hunt Group Limited 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 BH Placing Agreement                                    
                                                                              
    The BH Placing Agreement is conditional upon the                          
    absence of any breach of the representations or                           
    warranties by Best Hunt Group Limited set out in the                      
    BH Placing Agreement. Completion of the placing is                        
    to take place within two (2) business day from the                        
    date of the BH Placing Agreement or such other time,                      
    date and place as may be agreed by the parties thereto.                   
                                                                              
    SUBSCRIPTION AGREEMENT                                                    
                                                                              
    The Subscription Agreement was made between Fu's                          
    Family and the Company on 17 January 2005 pursuant                        
    to which Fu's Family conditionally agreed to                              
    subscribe and the Company conditionally agreed to                         
    allot and issue 14,000,000 new Shares at the price                        
    of HK$1.38 per Share.                                                     
                                                                              
    Parties                                                                   
                                                                              
    (1)     Fu's Family.                                                      
    (2)     The Company.                                                      
                                                                              
    Price of the subscription shares                                          
                                                                              
    The subscription price of the new Shares of HK$1.38                       
    per Share, being equivalent to the Placing Price, was                     
    determined after arm's length negotiation between                         
    Fu's Family and the Company with reference to the                         
    Placing Price.                                                            
                                                                              
    Subscription shares                                                       
                                                                              
    14,000,000 new Shares to be subscribed, represents                        
    approximately 7.78% of the existing issued share                          
    capital of Company and approximately 7.22% of the                         
    issued share capital of Company as enlarged by the                        
    Subscription. These 14,000,000 new Shares, when                           
    issued and fully paid, will rank pari passu among                         
    themselves and with the Shares in issue at the time                       
    of issue and allotment of their issue.                                    
                                                                              
    Conditions of the subscription                                            
                                                                              
    Completion of the Subscription Agreement is