09:44 CENTURY LEGEND<00079> - Announcement & Resumption (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. CENTURY LEGEND (HOLDINGS) LIMITED* (Incorporated in Bermuda with limited liability) (Stock Code: 0079) DISCLOSEABLE AND CONNECTED TRANSACTION On 11 January 2005, HKMJI, an indirect wholly-owned subsidiary of the Company, and China Sky, the controlling shareholder of the Company, have entered into the JV Agreement to form two joint ventures. The Joint Ventures have applied for and will obtain the Gaming Intermediaries Licences under the Regulation for the purpose of carrying on the Gaming Intermediary Operation and other lawful gaming-related activities at the Diamond Hall located in the Lisboa Casino, Macau and the Diamond Entertainment Hall located in the premises of the Holiday Inn, Macau. China Sky, through Barsmark, is beneficially interested in approximately 52.2% of the issued share capital of the Company as at the date of this announcement and is therefore a connected person of the Company under the Listing Rules. It is beneficially owned as to one-third by each of (i) Conba Investments Limited (a company wholly and beneficially owned by Mr. Tsang Chiu Mo Samuel, an executive director of the Company); (ii) Fortune Ocean Limited (a company wholly and beneficially owned by Mr. Tsang Chiu Ching, an executive director of the Company); and (iii) Sky Shore Limited (a company wholly and beneficially owned by Ms. Tsang Chiu Yuen Sylvia, the sister of Mr. Tsang Chiu Mo Samuel and Mr. Tsang Chiu Ching). The formation of the Joint Ventures will be subject to the Independent Shareholders' approval (by way of poll) in general meeting. China Sky and his associates shall abstain from voting on the formation of the Joint Ventures. The formation of Joint Ventures also constitutes a discloseable transaction of the Company under the Listing Rules. A circular containing, among others, further details of the Joint Ventures, a letter from the independent financial adviser containing its advice to the Independent Board Committee and the Independent Shareholders, and a notice of the Extraordinary General Meeting will be despatched to the shareholders of the Company as soon as practicable in accordance with the Listing Rules. Barsmark is in contact with SJM as regards to a proposal by Barsmark involving sale of not less than 5% interest in the Company from Barsmark to SJM. SJM is an independent third party not connected with the Company or any of its connected persons. The initial contact by Barsmark was preliminary only. Up to the date of this announcement, no agreement has been reached on the Possible Disposal. There is no assurance that the Possible Disposal will be materialized. Shareholders of the Company are therefore advised to exercise extreme caution in dealing in the shares of the Company. The Company will inform the public of any material development on this matter (if any) as and when appropriate. The Board has noted the increases in the price and trading volume of the shares of the Company on 6 January 2005 and wish to state that the Board is not aware of any reasons for such increases. Save for those mentioned in this announcement, the Board confirms that there are no negotiations or agreements relating to intended acquisitions or realizations which are discloseable under Rule 13.23 of the Listing Rules, neither is the Board aware of any matter discloseable under the general obligation imposed by Rule 13.09 of the Listing Rules, which is or may be of a price-sensitive nature. Trading in the shares of the Company was suspended from 3:10 p.m. on 6 January 2005 pending the release of this announcement. Application has been made by the Company for the resumption of trading of the shares of the Company on the Stock Exchange with effect from 26 January 2005. INTRODUCTION The Board is pleased to announce that, on 11 January 2005, HKMJI, an indirect wholly-owned subsidiary of the Company, and China Sky, the controlling shareholder of the Company, have entered into the JV Agreement to form two joint ventures. The Joint Ventures have applied for and will obtain the Gaming Intermediaries Licences under the Gaming Intermediaries Regulation of Macau (the "Regulation") for the purpose of carrying on the Gaming Intermediary Operation and other lawful gaming-related activities at the Diamond Hall (the "Diamond Hall") located in the Lisboa Casino, Macau and the Diamond Entertainment Hall (the "Diamond Entertainment Hall") located in the premises of the Holiday Inn, Macau.