09:54     KWONG SANG HONG<00189> - 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.                                
                                                                              
    POWER JADE LIMITED                                                        
    (Incorporated in the British Virgin Islands with limited                  
    liability)                                                                
                                                                              
    THE KWONG SANG HONG INTERNATIONAL LIMITED                                 
    (Incorporated in Bermuda with limited liability)                          
                                                                              
    Stock Code: 189                                                           
                                                                              
    PROPOSED PRIVATISATION OF                                                 
    THE KWONG SANG HONG INTERNATIONAL LIMITED                                 
    BY POWER JADE LIMITED                                                     
    (TRADING AS POWER JADE CAPITAL LIMITED)                                   
    BY WAY OF A SCHEME OF ARRANGEMENT                                         
                                                                              
    The KSH Directors wish to inform the KSH Shareholders that                
    the Scheme was sanctioned without modification by the                     
    Supreme Court on Friday, 21st January, 2005 (Bermuda time)                
    and a copy of the Supreme Court order will be delivered to                
    the Registrar of Companies in Bermuda for registration on                 
    Wednesday, 2nd February, 2005 (Bermuda time) which is the                 
    expected Effective Date.                                                  
                                                                              
    Subject to the delivery to and the registration by the                    
    Registrar of Companies in Bermuda of the copy of the Supreme              
    Court order as mentioned above, all the Conditions as set                 
    out in the Scheme Document are fulfilled or waived (as                    
    applicable).                                                              
                                                                              
    The KSH Shareholders are reminded that the last day for                   
    dealings in the KSH Shares on the Stock Exchange will be                  
    on Thursday, 27th January, 2005 and the latest time for                   
    lodging transfers of the KSH Shares in order to qualify for               
    entitlements under the Scheme will be 4:00 p.m. on Tuesday,               
    1st February, 2005.                                                       
                                                                              
    The listing of the KSH Shares will be withdrawn from the                  
    Stock Exchange with effect from 9:30 a.m. on Thursday, 3rd                
    February, 2005.                                                           
                                                                              
    Cheques for cash entitlements under the Scheme are expected               
    to be despatched on or before Saturday, 12th February, 2005.              
                                                                              
    This announcement is made further to the scheme document                  
    dated 13th December, 2004 despatched to the KSH                           
    Shareholders in relation to the Proposal (the "Scheme                     
    Document"), the announcement regarding the results of the                 
    Court Meeting and the Special General Meeting dated 5th                   
    January, 2005 and the announcement regarding the deferment                
    of the expected timetable dated 13th January, 2005.                       
    Capitalised terms used in this announcement shall have the                
    same meanings as defined in the Scheme Document unless the                
    context herein requires otherwise.                                        
                                                                              
    SUPREME COURT HEARING TO SANCTION THE SCHEME                              
                                                                              
    The Supreme Court hearing of the petition to sanction the                 
    Scheme was held on 21st January, 2005 (Bermuda time) and                  
    the Scheme was sanctioned without modification by the                     
    Supreme Court on that date.  A copy of the Supreme Court                  
    order will be delivered to the Registrar of Companies in                  
    Bermuda for registration in the morning on Wednesday, 2nd                 
    February, 2005 (Bermuda time) (which will be the evening                  
    on Wednesday, 2nd February, 2005 (Hong Kong time)), which                 
    is the expected Effective Date.                                           
                                                                              
    Subject to the delivery to and the registration by the                    
    Registrar of Companies in Bermuda of the copy of the Supreme              
    Court order as mentioned above, all the Conditions as set                 
    out in the Scheme Document are fulfilled or waived (as                    
    applicable).                                                              
                                                                              
    LAST DAY FOR DEALINGS IN THE KSH SHARES                                   
                                                                              
    The KSH Shareholders are reminded that the last day for                   
    dealings in the KSH Shares on the Stock Exchange will cease               
    immediately after 4:00 p.m. on Thursday, 27th January,                    
    2005.