09:51     MASSIVE RES<00070> - Announcement & Resumption (10)                 

    in respect of the intended acquisition.                                   
                                                                              
    In the event that the Acquisition cannot be completed, the HK$20 million  
     from the net proceeds of the Subscription assigned for payment of the    
    cash consideration of the Acquisition will be used in other               
    investment(s) which have not yet been identified by the Group.            
                                                                              
    The net proceeds raised per Subscription Shares will be about HK$0.0344   
    per Shares. The Company will bear an aggregate expenses and costs of      
    about HK$2 million incurred in relation to the Placing and the            
    Subscription.                                                             
                                                                              
    General mandate                                                           
                                                                              
    The Subscription Shares will be issued under the general mandate          
    ("General Mandate") to allot, issue and deal with Shares granted to the   
    Directors by resolution of the Shareholders passed at the annual general  
     meeting (the "AGM") of the Company held on 30 November 2004 subject to   
    the limit up to 20% of the issued share capital of the Company as at the  
     date of passing the resolution at the AGM (i.e. 1,816,272,000 Shares).   
    As at the date of this announcement, no Share has been issued under the   
    General Mandate.                                                          
                                                                              
    CAPITAL RAISING ACTIVITIES OF THE COMPANY DURING THE PAST 12 MONTHS       
                                                                              
    During the past 12 months, the capital raising activities of the Company  
     include:                                                                 
                                                                              
                         Actual use of                                        
             Discount/            proceeds as at                              
             premium to      Intended use   the date of                       
    Date of         the market   Net proceeds   of net proceeds   this        
    announcement                                                              
    Announcement   Event   Placees   price   (Approximately)                  
    (Approximately)   (Approximately)                                         
                                                                              
    4 March 2004   Open offer of   N/A   A discount of   HK$87.8 million      
    (i)   About HK$14.1 million for    (i)   About HK$14.1 million            
         4,540,680,000         about 43.5%          repayment of outstanding  
           used for repayment of                                              
         offer shares         to the closing price          debts and loans   
    due to       outstanding debts and                                        
         at HK$0.02        of HK$0.023 per          Independent Third         
    Parties;      loans due to Independent                                    
         per offer share        Share as quoted      (ii)   about HK$15.8     
    million       Third Parties;                                              
         with bonus issue         on the Stock          for redemption of     
    the convertible    (ii)   about HK$15.8 million                           
         of 2,270,340,000         Exchange on          notes issued in June   
    2003;      used for redemption of                                         
         bonus shares        26 February 2004      (iii)   about HK$20.0      
    million for       the convertible notes                                   
                      operating expenses of a subsidiary       issued in      
    June 2003;                                                                
                      of the Company;   (iii)   about HK$20.0 million         
                   (iv)   about HK$25.0 million for expansion       for       
    operating expenses of                                                     
                      of the Group's business through       a subsidiary of   
    the Company                                                               
                      intended acquisition in the field       which has not   
    yet                                                                       
                      of Chinese medicine and       been utilized;            
                      health products; and   (iv)   the Company has not       
                   (v)   remaining of about HK$12.9 million       identified  
     any suitable                                                             
                      for general working capital.      Chinese medicine and  
                                                                              
                            health products for expansion                     
                            of the Group's business,                          
                            in order to effectively                           
                            utilize the Group's                               
                            financial resources                               
                            and maximize the Group's                          
                            potential returns, the Board                      
                            is considering to utilize                         
                            the HK$20 million                                 
                            for payment of part of                            
                            the consideration of                              
                            the acquisition of                                
                            70% interest and                                  
                            70% shareholder's loan                            
                            in EC Link Pacific Limited                        
                            as announced by                                   
                            the Company on                                    
                            25 November 2004; and