09:48     K. WAH INT'L<00173>&K. WAH CONS<00027>-J. Ann.&Resumption(2)        

    Save for the activities mentioned above and previously disclosed by       
    KWIH on 17 December 2004 and in the Announcements, the KWIH Board         
    confirms that there are presently no negotiations or agreements           
    relating to intended acquisitions or realisations relating to KWIH        
    which are discloseable under Rule 13.23 of the Listing Rules, neither     
    is the KWIH Board aware of any matter discloseable under the general      
    obligation imposed on KWIH by Rule 13.09 of the Listing Rules, which      
    is or may be of a price-sensitive nature. The directors of KWIH           
    individually and jointly accept responsibility for the accuracy of        
    this announcement.                                                        
                                                                              
    Save for the activities mentioned above and previously disclosed in       
    the Announcements, the KWCM Board confirms that there are presently       
    no negotiations or agreements relating to intended acquisitions or        
    realisations relating to KWCM which are discloseable under Rule           
    13.23 of the Listing Rules, neither is the KWCM Board aware of any        
    matter discloseable under the general obligation imposed on KWCM by       
    Rule 13.09 of the Listing Rules, which is or may be of a                  
    price-sensitive nature. The directors of KWCM individually and            
    jointly accept responsibility for the accuracy of this announcement.      
                                                                              
    The respective shareholders of KWIH and KWCM and potential investors      
    are advised to exercise caution when dealing in the shares of KWIH        
    and KWCM.                                                                 
                                                                              
    Tradings in the shares of KWIH and KWCM on the Stock Exchange were        
    suspended at the respective request of KWIH and KWCM with effect from     
    9:30 a.m. on 20 January 2005 pending the release of this announcement.    
    KWIH and KWCM have applied for a resumption of tradings in their          
    shares with effect from 9:30 a.m. on 21 January 2005.                     
                                                                              
    As at the date of this announcement, the executive directors of KWIH      
    are Dr. Lui Che Woo, Mr. Francis Lui Yiu Tung, Mr. Lennon Lun Tsan        
    Kau, Mr. Eddie Hui Ki On, Mr. William Lo Chi Chung and Mrs. Paddy         
    Tang Lui Wai Yu; the non-executive director of KWIH is Mr. Michael        
    Leung Man Kin and the independent non-executive directors of KWIH         
    are Sir David Akers-Jones, Dr. Philip Wong Kin Hang, Dr. Leo Lee Tung     
    Hai, Dr. Robin Chan Yau Hing, Dr. Charles Cheung Wai Bun and Mr.          
    Robert George Nield.                                                      
                                                                              
    As at the date of this announcement, the executive directors of KWCM      
    are Dr. Lui Che Woo, Mr. Francis Lui Yiu Tung, Mr. Chan Kai Nang,         
    Mr. William Lo Chi Chung, Ms. Paddy Tang Lui Wai Yu and Mr. Joseph        
    Chee Ying Keung; the non-executive director of KWCM is Mr. Moses          
    Cheng Mo Chi and the independent non-executive directors of KWCM are      
    Dr. Charles Cheung Wai Bun, Mr. James Ross Ancell and Dr. William         
    Yip Shue Lam.                                                             
                                                                              
    By Order of the Board of                                                  
    K. Wah International Holdings Limited                                     
    Steven Tong Kui Nam                                                       
    Company Secretary                                                         
                                                                              
    By Order of the Board of                                                  
    K. Wah Construction Materials Limited                                     
    Steven Tong Kui Nam                                                       
    Company Secretary                                                         
                                                                              
    Hong Kong, 20 January 2005