09:52     MASSIVE RES<00070> - Announcement & Resumption (13)                 

    and/or its subsidiary pursuant to the Memorandum                          
                                                                              
    "Macau"   Macau Special Administrative Region of the PRC                  
                                                                              
    "Memorandum"   the legally binding memorandum dated 7 January 2005        
    entered into between Artwin and the Company                               
                                                                              
    "Mr. Lin"   Mr. Lin Cheuk Fung, vendor of the Sale Shares and the Sale    
    Loan                                                                      
                                                                              
    "Mr. Lee"   Mr. Lee Chun Hing                                             
                                                                              
    "Placing"   the placing of 1,816,270,000 existing Shares in aggregate     
    owned by the Vendors pursuant to the terms of the Placing Agreement       
                                                                              
    "Placing Agent"   Kingston Securities Limited, a licensed corporation to  
     carry on business in types 1, 4, 6 and 9 regulated activities (dealing   
    in securities, advising on securities and corporate finance, and asset    
    management) under the Securities and Futures Ordinance (Chapter 571 of    
    the Laws of Hong Kong)                                                    
                                                                              
    "Placing Agreement"   the placing agreement between the Vendors and the   
    Placing Agent dated 21 January 2005 in relation to the Placing            
                                                                              
    "Placing Price"   HK$0.0355 per Share                                     
                                                                              
    "Placing Shares"   an aggregate of 1,816,270,000 existing Shares owned    
    by the Vendors and to be placed pursuant to the Placing Agreement         
                                                                              
    "PRC"   the People's Republic of China                                    
                                                                              
    "S&P Agreement"   the conditional sale and purchase agreement dated 7     
    January 2005 in relation to the sale and purchase of the Sale Shares and  
     Sale Loan entered into between the Company and Mr. Lin                   
                                                                              
    "Sale Shares"   70 shares in the issued capital of Walden                 
                                                                              
    "Share(s)"   ordinary share(s) of HK$0.02 each in the capital of the      
    Company                                                                   
                                                                              
    "Shareholders"   holder(s) of Share(s)                                    
                                                                              
    "Sale Loan"   the loan of HK$67.9 million provided by Mr. Lin to Walden,  
     representing the entire amount due by Walden to Mr. Lin                  
                                                                              
    "Ship"   the cruise ship, CT Neptune ex Olvia, which is owned by Walden   
                                                                              
    "Stock Exchange"   The Stock Exchange of Hong Kong Limited                
                                                                              
    "Subscription"   the top-up subscription of 1,816,270,000 new Shares      
    pursuant to the terms of the Subscription Agreement                       
                                                                              
    "Subscription Agreement"   the subscription agreement between the         
    Vendors and the Company dated 21 January 2005 in relation to the          
    Subscription                                                              
                                                                              
    "Subscription Price"   HK$0.0355 per Share                                
                                                                              
    "Subscription Shares"   a total of 1,816,270,000 new Shares to be         
    subscribed for by the Vendors pursuant to the Subscription Agreement      
                                                                              
    "Vendors"   Gallery and Golden                                            
                                                                              
    "Walden"   Walden Maritime S.A., a company incorporated in the Republic   
    of Panama                                                                 
                                                                              
    "HK$"   the lawful currency of Hong Kong                                  
                                                                              
    "US$"   the lawful currency of the United States of America               
                                                                              
    "%"   per cent.                                                           
                                                                              
    By order of the board                                                     
    Massive Resources International Corporation Limited                       
    Lau Kwok Hung                                                             
    Executive Director                                                        
                                                                              
    Hong Kong, 21 January 2005                                                
                                                                              
    As at the date of this announcement, the executive Directors are Mr.      
    Chen Chak Man, Mr. Lau Kwok Hung, Mr. Lau Kwok Keung and Ms. Chik Siu     
    Yin, Urica, and the independent non-executive Directors are Mr. Chow Pui  
     Fung, Mr. Yue Fu Wing and Mr. Hung Shui Nam.