09:32 SKYNET(INTL GP)<00577> & PAUL Y-ITC<00498> - J. Ann. (3) Last day of operation of odd lot trading facility Wednesday, 23rd February Last day for free exchange of new share certificates for Consolidated Shares under new name Wednesday, 2nd March Following the Capital Reorganisation taking effect on 23rd December, 2004, all light grey share certificates for any number of the Old Shares in issue immediately before the Capital Reorganisation became effective are deemed to be share certificates representing Consolidated Shares, and will be effective as documents of title, on the basis of every 250 Old Shares for one Consolidated Share. Dealings in the Consolidated Shares are expected to commence on Friday, 28th January, 2005. Parallel trading arrangements for the Consolidated Shares in the form of new share certificates (which will be either in light green (under the old name) or orange (under the new name) in colour) and light grey share certificates for the Old Shares will be established with the Stock Exchange and parallel trading will be permitted from Friday, 28th January, 2005 to Wednesday, 23rd February, 2005, both days inclusive, at the counters mentioned in (i) and (ii) below: (i) with effect from 9:30 a.m. on Friday, 28th January, 2005, a temporary counter (stock code: 2960 under the trading stock short name of SKYNET-OLD) for trading in the Consolidated Shares in board lots of 20 Consolidated Shares will be established and only light grey share certificates for the Old Shares can be traded at this counter. All light grey share certificates for the Old Shares will be valid for settlement and delivery for trading transacted at this counter on the basis that every 250 Old Shares represent one Consolidated Share; and (ii) with effect from 9:30 a.m. on Friday, 28th January, 2005, trading on the original counter (stock code: 577 under the trading stock short name of SKYNET-NEW) will remain and will become a counter for trading in the Consolidated Shares in new board lots of 2,000 Consolidated Shares. Only light green (under old name) and new orange (under new name) share certificates for the Consolidated Shares can be traded at this counter. The temporary counter for trading in the Consolidated Shares in board lots of 20 Consolidated Shares (represented by light grey share certificates for the Old Shares) will be removed after 4:00 p.m. on Wednesday, 23rd February, 2005. Thereafter, trading will only be in light green (under old name) and new orange (under new name) share certificates for the Consolidated Shares (stock code: 577 under the trading stock short name of "SKYNET(INTL GP)") in board lots of 2,000. Consequential upon the change of name taking effect, further announcement will be made regarding the change of trading stock short name. The light grey share certificates for the Old Shares will then cease to be marketable and not be acceptable for delivery and settlement purposes but will remain effective as documents of title on the basis of every 250 Old Shares for one Consolidated Share. In order to facilitate the trading of odd lots of the Consolidated Shares as a result of the Capital Reorganisation and the Open Offer, Paul Y Engineering has appointed Tai Fook Securities Company Limited as an agent to match, on a "best efforts" basis, the sale and purchase of odd lots of the Consolidated Shares arising from the Capital Reorganisation and the Open Offer from Friday, 28th January, 2005 up to and including Wednesday, 23rd February, 2005. Such arrangement is to facilitate Shareholders who wish to dispose of or top up their odd lots of Consolidated Shares. Shareholders who wish to take advantage of this facility should contact Mr. Gilbert Lam of Tai Fook Securities Company Limited at 25th Floor, New World Tower, 16-18 Queen's Road, Central, Hong Kong (Tel: 2160 9963) during the period. Shareholders should note that the matching of the sale and purchase of odd lots of Consolidated Shares is not guaranteed. Shareholders are recommended to consult their licensed securities dealers, bank managers, solicitors, professional accountants or other professional advisers if they are in any doubt about the facility described above.