09:20     NEW WORLD TMT<00301> - Announcement (3)                             

    "Listing Rules"  The Rules Governing the Listing of Securities on the     
    Stock Exchange                                                            
                                                                              
    "Living Colours"  Living Colours Limited, a wholly owned subsidiary of    
    the Vendor immediately before Completion, incorporated in the British     
    Virgin Islands with limited liability and issued share capital of         
    US$1.00 divided into 1 share of US$1.00                                   
                                                                              
    "PRC"  the People's Republic of China                                     
                                                                              
    "Purchaser"  * (unofficial translation being Beijing                      
    Xiao Tong Run He Broadband Network Technology Services Co. Ltd.), a       
    company incorporated in the PRC with limited liability                    
                                                                              
    "RMB"  Renminbi yuan, the lawful currency of the PRC                      
                                                                              
    "Stock Exchange"  The Stock Exchange of Hong Kong Limited                 
                                                                              
    "Vendor"  Lotsgain Limited, a company incorporated in the British         
    Virgin Islands with limited liability and a wholly owned subsidiary of    
    the Company                                                               
                                                                              
    "US$"  United States dollars, the lawful currency of the United States    
    of America                                                                
                                                                              
    By Order of the Board                                                     
    Chow Oi-Wah, Fergus                                                       
    Company Secretary                                                         
                                                                              
    Hong Kong, 20 January 2005                                                
                                                                              
    Exchange rate: HK$1 = RMB1.07