09:30     GOLDEN HARVEST<01132> - Announcement (2)                            

    The Rights Issue, which was fully underwritten by FB Gemini,              
    became unconditional at 4:00 p.m. on Friday, 14 January 2005.             
    Based on the above results, the Rights Issue was under-                   
    subscribed by 64,473,391 Rights Shares, all of which have                 
    been taken up by an associate of FB Gemini.                               
                                                                              
    SHAREHOLDING STRUCTURE                                                    
    To the best knowledge of the Directors, the shareholding                  
    structure of the Company immediately before and after                     
    completion of the Rights Issue is as follows:                             
                                                                              
    Number of Shares in issue before completion of the Rights                 
    Issue                                                                     
                                                                              
    Approximate percentage of shareholding before completion of               
    the Rights Issue                                                          
                                                                              
    Number of Shares in issue after completion of the Rights                  
    Issue                                                                     
                                                                              
    Approximate percentage of shareholding after completion of                
    the Rights Issue                                                          
                                                                              
    Substantial Shareholders                                                  
    Chow Ting Hsing, Raymond   250,537,233   24.11%                           
    313,121,528   24.11%                                                      
    Li Ka-shing   178,054,000   17.13%   222,567,500   17.13%                 
    Typhoon Music (PRC) Limited   155,000,000   14.92%                        
    155,000,000   11.93%                                                      
    PAMA Group Inc.   123,284,027   11.86%   123,284,027                      
    9.49%                                                                     
                                                                              
    Underwriter                                                               
                                                                              
    FB Gemini   0   0.00%   64,473,391   4.96%                                
                                                                              
    Other Directors                                                           
      Phoon Chiong Kit   6,000,000   0.58%   7,500,000   0.58%                
      Chan Sik Hong, David   5,859,375   0.56%   5,859,375                    
    0.45%                                                                     
      Lau Pak Keung (alternate director to Phoon Chiong Kit                   
    1,280,000   0.12%   1,600,000   0.12%                                     
    Public   319,272,865   30.72%   405,703,554   31.23%                      
                                                                              
    Total   1,039,287,500   100.00%   1,299,109,375   100.00%                 
                                                                              
    SHARE CERTIFICATES AND DEALINGS                                           
    It is expected that share certificates in respect of the                  
    fully-paid Rights Shares will be despatched by ordinary post              
    to those Qualifying Shareholders who have validly applied                 
    and paid for the Rights Shares and excess Rights Shares, at               
    their own risk, on or before Friday, 28 January 2005.                     
    Dealings in the fully-paid Rights Shares on the Stock                     
    Exchange will commence at 9:30 a.m. on Tuesday, 1 February                
    2005.                                                                     
                                                                              
    List of all Directors of the Company as of the date of this               
    announcement:                                                             
                                                                              
    Executive Directors:                                                      
    Mr. Chow Ting Hsing, Raymond                                              
    Mr. Phoon Chiong Kit                                                      
    Mr. Chan Sik Hong, David                                                  
    Mrs. Chin Chow Chung Hang, Roberta                                        
    Mr. Lau Pak Keung (alternate director to Mr. Phoon Chiong                 
    Kit)                                                                      
                                                                              
    Non-executive Director:                                                   
    Mr. Kronfeld, Eric Norman                                                 
                                                                              
    Independent non-executive Directors:                                      
    Mr. Lin, Frank                                                            
    Prince Yukol, Chatrichalerm                                               
    Mr. Ma Kah Woh, Paul                                                      
                                                                              
    On behalf of the Board                                                    
    Chow Ting Hsing, Raymond                                                  
    Chairman                                                                  
                                                                              
    Hong Kong, 25 January 2005