09:44     XINYI GLASS HOLDINGS LIMITED<00868> - Announcement (1)              

    This announcement is for information purpose only and does not            
    constitute an invitation or an offer to acquire, purchase or              
    subscribe for securities.                                                 
                                                                              
    This announcement is not an offer of securities for sale in the           
    United States. Securities may not be offered or sold in the United        
    States absent registration or an exemption from registration under        
    the US Securities Act 1933, as amended.                                   
                                                                              
    The Stock Exchange and HKSCC take no responsibility for the contents      
    of this announcement, make no representation as to its accuracy or        
    completeness and expressly disclaim any liability whatsoever for any      
    loss howsoever arising from or in reliance upon the whole or any part     
    of the contents of this announcement.                                     
                                                                              
    In connection with the Share Offer, the Global Coordinator may            
    over-allocate or effect any other transactions with a view to             
    stabilising or maintaining the market price of the Shares at a level      
    higher than that which might otherwise prevail in the open market for     
    a limited period of time from the Listing Date up to the 30th day         
    after the last day for the lodging of applications under the Hong         
    Kong Public Offer. Any market purchase of Shares will be effected in      
    compliance with all applicable laws and regulatory requirements,          
    including the Securities and Futures (Price Stabilising) Rules made       
    under SFO. However there is no obligation on the Global Coordinator       
    to conduct any such stabilising activity, which if commenced, will be     
    done at the absolute discretion of the Global Coordinator and may be      
    discontinued at any time. Any such stabilising activity is required       
    to be brought to an end after the limited period.                         
                                                                              
    Unless the context requires otherwise, terms used herein shall have       
    the same meanings as those defined in the prospectus (the                 
    `Prospectus') of the Company dated 24 January 2005.                       
                                                                              
    XINYI GLASS HOLDINGS LIMITED                                              
    (Incorporated in the Cayman Islands with limited liability)               
                                                                              
    LISTING ON THE MAIN BOARD OF                                              
    THE STOCK EXCHANGE OF HONG KONG LIMITED                                   
    BY WAY OF                                                                 
    INTERNATIONAL PLACING AND HONG KONG PUBLIC OFFER                          
                                                                              
    Number of Offer      :                    375,000,000 Shares,             
    Shares                                    subject to the                  
                                              Over-allotment                  
                                              Option                          
    Number of            :                    337,500,000 Shares,             
    International                             subject to the                  
    Placing                                   Over-allotment                  
    Shares                                    Option and                      
                                              reallocation                    
    Number of Hong Kong  :                    37,500,000 Shares,              
    Public Offer                              subject to                      
    Shares                                    reallocation                    
    Offer Price          :                    Not more than                   
                                              HK$2.04 for each                
                                              Offer Share payable             
                                              in full upon                    
                                              application and                 
                                              subject to refund               
    Nominal value        :                    HK$0.10 for each                
                                              Share                           
    Stock code           :                    868                             
                                                                              
                                                                              
                                                                              
    Sponsor, Global Coordinator and Bookrunner                                
    Kingsway                                                                  
                                                                              
                                                                              
    Joint Lead Managers                                                       
    Kingsway                                                      DBS         
                                                                              
                                                                              
                                                                              
                                                                              
    Application has been made to the Listing Committee for the listing        
    of, and permission to deal in, the Shares in issue and to be issued       
    as described in the Prospectus (including the additional Shares to be     
    issued pursuant to the exercise of the Over-allotment Option) and any     
    Shares to be issued pursuant to the exercise of options which may be      
    granted under the Share Option Scheme. Dealings in the Shares are         
    expected to commence at 9:30 a.m. on 3 February 2005 (the `Listing        
    Date'). Applications for the Hong Kong Public Offer Shares will only      
    be considered on the basis of the Prospectus and the PINK, WHITE or       
    YELLOW Application Forms in accordance with the relevant provisions       
    of the Prospectus. It should be noted that multiple applications or       
    suspected multiple applications or any application for more than          
    16,876,000 Hong Kong Public Offer Shares (being half of the balance       
    of the Hong Kong Public Offer Shares initially made available) after      
    deducting the 3,748,000 Hong Kong Public Offer Shares initially made      
    available for subscription by eligible full-time employees of the         
    Group in Hong Kong using PINK Application Forms, will be rejected.        
    Only one application on either a WHITE or YELLOW Application Form or