09:23 NEW CENTURY GP<00234> - Announcement 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. NEW CENTURY GROUP HONG KONG LIMITED (Incorporated in Bermuda with limited liability) (Stock Code: 234) FURTHER DELAY IN DESPATCH OF CIRCULAR The Company has applied to the Stock Exchange for further extension of the deadline for despatch of the Circular in relation to a very substantial acquisition and connected transaction from 24th January, 2005 to 31st January, 2005. Reference is made to the announcement of the Company dated 26th November, 2004 (the "Announcement") in relation to a very substantial acquisition and connected transaction regarding the acquisition of a further 20% beneficial interest in two cruise liners, namely "Leisure World" and "Amusement World", the announcement of the Company dated 17th December, 2004 and the announcement of the Company dated 7th January, 2005 (the "Delay Announcement") regarding the delay in despatch of the Circular. Unless otherwise stated, capitalised terms used herein have the meanings ascribed thereto in the Announcement and the Delay Announcement. FURTHER DELAY IN DESPATCH OF CIRCULAR Pursuant to Rule 14.38 and Rule 14A.49 of the Listing Rules, the Company is required to despatch the Circular to its Shareholders within 21 days after publication of the Announcement, which fell on or before 20th December, 2004. As announced in the Delay Announcement, the Company applied for a waiver from strict compliance with Rule 14.38 and Rule 14A.49 of the Listing Rules with which the deadline for despatch of the Circular has been extended from 10th January, 2005 to 24th January, 2005. In spite of the progress that has been made, additional time is required to finalise the accountants' reports on NCML and the previous owners of the Vessels, pro forma financial information of the enlarged Group and the indebtedness statement to be included in the Circular. Application has been made to the Stock Exchange for consent to further extend the deadline for despatch of the Circular to 31st January, 2005. On behalf of the Board Wilson Ng Chairman Hong Kong, 24th January, 2005 As at the date of this announcement, the Board comprises Mr. Wilson Ng (Chairman), Ms. Sio Ion Kuan (Deputy chairman), Mr. Ng Wee Keat (Chief executive officer), Ms. Ng Siew Lang, Linda (Chief operating officer), Ms. Lilian Ng, Mr. Lo Ming Chi, Charles, Ms. Chen Ka Chee and Mr. Yu Wai Man as executive Directors and Mr. Wong Kwok Tai, Mr. Kwan Kai Kin, Kenneth and Mr. Ho Yau Ming as independent non-executive Directors.