10:20     GOLIK HOLDINGS<01118> - Announcement (6)                            

    and as to 49% by Party A. The registered capital of                       
    Tianjin Golik is US$1,000,000 and contributed as to                       
    US$510,000 by CMTH and as to US$490,000, in                               
    proportional to their respective equity interest.                         
    Tianjin Golik is engaged in the manufacture and sale                      
    of steel wire ropes for elevators.                                        
                                                                              
    Upon completion of the Transfer and the approval of                       
    the New JV Documents,                                                     
                                                                              
    (1)     Tianjin Golik will rename as "Tianjin Bridon                      
    Rope Ltd. (#*)";                                                          
                                                                              
    (2)     the registered capital of Tianjin Golik will                      
    increase from US$1,000,000 to US$2,000,000. The                           
    additional US$1,000,000 capital will be contributed                       
    by China Rope in cash within three months of the                          
    fulfillment of the conditions precedent of the Equity                     
    Joint Venture Contract as set out in the paragraph                        
    headed "The Agreements - The Equity Joint Venture                         
    Contract" above;                                                          
                                                                              
    (3)     Party A will be interested in 24.5% of the equity                 
    interest of Bridon Tianjin JV, being the amount of                        
    US$490,000 which Party A has already contributed by                       
    its contribution to the registered capital Tianjin                        
    Golik (the predecessor of Bridon Tianjin JV prior to                      
    the increase in the registered capital and the change                     
    of the name to "Tianjin Bridon Rope Ltd. (#*)");                          
                                                                              
                                                                              
    (4)     China Rope will be interested in 75.5% of the                     
    equity interest of Bridon Tianjin JV. Upon completion                     
    of the Transfer, it will be the holder of registered                      
    capital in the amount of US$510,000 and will                              
    contribute to the remaining balance in the amount of                      
    US$1,000,000 in accordance with the terms of the                          
    Equity Joint Venture Contract.                                            
                                                                              
    The audited net asset value of Tianjin Golik as at                        
    31 December 2003 and the unaudited net asset value                        
    of Tianjin Golik as at 30 November 2004 were                              
    RMB10,094,083 (equivalent to approximately                                
    HK$9,466,457) and were RMB13,682,243 (equivalent to                       
    approximately HK$12,831,514), respectively.                               
                                                                              
    The audited profit before and after taxation of                           
    Tianjin Golik for the two years ended 31 December 2003                    
    were:                                                                     
                                                                              
    For the year ended              For the year ended                        
    31 December 2002                31 December 2003                          
                                                                              
    Profit before taxation  RMB600,967              RMB2,710,047              
    Profit after taxation   RMB600,967              RMB2,710,047              
                                                                              
    GROUP STRUCTURE BEFORE AND AFTER COMPLETION OF THE                        
    AGREEMENTS                                                                
    Before completion of the Agreements:                                      
                                                                              
    After completion of the Agreements:                                       
                                                                              
    REASONS FOR THE TRANSACTIONS                                              
    The Transfer and the Subscription provide the Group                       
    with an opportunity to co-operate with the Bridon                         
    group of companies, the world's leading specialist                        
    in the manufacture of steel wire and wire rope                            
    solutions. The co-operation enables the Group to                          
    fulfill its key strategic directives of securing                          
    access to international markets and distribution                          
    network for its products and to form an alliance with                     
    a business partner possessing the world's best