09:41     CHINA HAIDIAN<00256> - Announcement (1)                             

    The Stock Exchange of Hong Kong Limited takes no                          
    responsibility for the contents of this announcement,                     
    makes no representation as to its accuracy or                             
    completeness and expressly disclaims any liability                        
    whatsoever for any loss howsoever arising from or in                      
    reliance upon the whole or any part of the contents                       
    of this announcement.                                                     
                                                                              
    CHINA HAIDIAN HOLDINGS LIMITED                                            
    *                                                                         
    (Formerly known as China Everbright Technology                            
    Limited)                                                                  
    (Incorporated in the Cayman Islands with limited                          
    liability)                                                                
    (Stock Code: 256)                                                         
                                                                              
    DELAY IN DESPATCH OF THE CIRCULAR                                         
                                                                              
    Further to the announcements of the Company dated 2                       
    December 2004, 24 December 2004 and 31 December 2004                      
    respectively, the Company has provided additional                         
    information in relation to the Beijing Haidian Group                      
    to the Stock Exchange for seeking the relaxation of                       
    the requirements to include an accountants' report                        
    on the company being acquired in the Circular under                       
    Rule 14.67(4)(a)(i) of the Listing Rules. Based on                        
    the information provided to the Stock Exchange, the                       
    Stock Exchange has indicated to the Company that it                       
    would not relax such requirements.                                        
                                                                              
    In view of the above, the Purchasers require                              
    additional time to discuss with the management and                        
    the existing shareholders of Beijing Haidian to                           
    explore the possibility to commence audit work of the                     
    Beijing Haidian Group for the three years ended 31                        
    December 2004 in order to comply with Rule                                
    14.67(4)(a)(i) of the Listing Rules and to extend the                     
    completion date of the Acquisition. As the Purchasers                     
    will only be interested in 21% of Beijing Haidian,                        
    the Purchasers may or may not be able to convince the                     
    management and the existing shareholders of Beijing                       
    Haidian for the permission to commence audit work of                      
    the Beijing Haidian Group for the three years ended                       
    31 December 2004, therefore further announcement will                     
    be made by the Company to inform the Shareholders in                      
    this regard as soon as practicable.                                       
                                                                              
    The Company announces that it has applied to the Stock                    
    Exchange for a waiver from strict compliance with                         
    Rules 14.38 and 14.40 of the Listing Rules so that                        
    the despatch of the Circular will be postponed.                           
                                                                              
    Reference is made to the announcements of China                           
    Haidian Holdings Limited (Formerly known as China                         
    Everbright Technology Limited) (the "Company") dated                      
    2 December 2004, 24 December 2004 and 31 December 2004                    
    respectively (the "Announcements") in relation to,                        
    among other things, the Acquisition.                                      
                                                                              
    Terms defined in this announcement shall have the same                    
    meanings as those defined in the Announcements unless                     
    the context requires otherwise.                                           
                                                                              
    Delay in despatch of the Circular                                         
    Pursuant to Rules 14.38 and 14.40 of the Listing Rules,                   
    the Company is required to despatch the Circular to                       
    the Shareholders within 21 days after the publication                     
    of the announcement of the Company on 3 December 2004,                    
    which shall be on or before 24 December 2004. The                         
    Company announced in its announcement dated 24                            
    December 2004 that the despatch of the Circular will                      
    be delayed and further