10:35     KONG SUN HOLD<00295> - 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.                                                             
                                                                              
    KONG SUN HOLDINGS LIMITED                                                 
                                                                              
    (Stock code: 295)                                                         
    (incorporated in Hong Kong with limited liability)                        
                                                                              
    DELAY IN PUBLICATION OF ANNUAL RESULTS FOR THE YEAR ENDED 31              
    DECEMBER 2003                                                             
    AND INTERIM RESULTS FOR THE SIX MONTHS ENDED 30 JUNE 2004 AND             
    DESPATCH OF ANNUAL REPORT AND INTERIM REPORT                              
    AND APPOINTMENT OF INDEPENDENT NON-EXECUTIVE DIRECTOR                     
                                                                              
    The Company announces that the Directors (represented by their            
    lawyers) appeared before the High Court on 2 September 2004               
    asking for an order to, inter alia, extend the time for the               
    Company to lay before the 2003 annual general meeting of the              
    Company the Annual Results under section 122 of the Companies             
    Ordinance for six months (instead of three months as stated in            
    the 30 June Announcement) until 31 December 2004. The High Court          
    adjourned the said application indefinitely pending the                   
    Directors ascertaining the scheduled date of the release of the           
    Annual Results.                                                           
                                                                              
    The Company also announces that it has announced the Annual               
    Results on 19 January 2005. The Directors has applied to the              
    High Court on 20 January 2005 to restore the hearing of the said          
    application. The High Court will fix a date for the said hearing          
    on 24 January 2005. In the circumstances, the despatch of the             
    Annual Report will also be delayed until the High Court makes             
    an order in relation to the said application.                             
                                                                              
    The Company will make further announcement(s) regarding the               
    outcome of the said application and the date of despatch of the           
    Annual Report.                                                            
                                                                              
    The Company further announces that due to the delay in the                
    publication of the Annual Results, the publication of the Interim         
    Results will also be delayed from 30 September 2004 to on or              
    before 28 February 2005. As a result, the despatch of the Interim         
    Report will also be delayed to a date to be announced by the              
    Company.                                                                  
                                                                              
    The delay in publication of the Annual Results and the Interim            
    Results and the despatch of the Annual Report and the Interim             
    Report constitute breaches of Rules 13.49(1) and 13.49(6) and             
    13.46(1) and 13.48(1) of the Listing Rules by the Company,                
    respectively. In addition, note 2 of Rule13.46(b) notes that              
    section 122 of the Companies Ordinance requires the annual                
    accounts of a Hong Kong issuer which are laid before the issuer           
    at its annual general meeting to be made up to a date falling             
    not more than 6 months before the date of the meeting. The Stock          
    Exchange reserves its rights to take further action against the           
    Company and the Directors for such breaches.                              
                                                                              
    The Company also announces that Mr. Chan Shing Hoi Alfred has             
    been appointed as an independent non-executive Director and a             
    member of the audit committee of the Company with effect from             
    10 January 2005. Details of Mr. Chan's appointment are set out            
    below.                                                                    
                                                                              
    Trading in the shares of the Company on the Stock Exchange was            
    suspended with effect from 9:30 a.m. on 17 June 2004 at the               
    request of the Company, and will continue to be suspended pending         
    the release of an announcement in