10:10     LIPPO<00226> & LIPPO CHINA RES<00156> - Joint Ann. (10)             

    HK$14,863,000 for information purposes under the                          
    Listing Rules. The percentage ratios (as defined                          
    under the Listing Rules) for each of the three                            
    financial years ending 31st December, 2006 as regards                     
    the proposed caps for the Manufacturing Agreement are                     
    as follows:                                                               
                                                                              
    For the year ended      For the year ending     For the year              
    ending                                                                    
    Percentage ratios       31st December, 2004     31st                      
    December, 2005  31st December, 2006                                       
    Lippo   LCR     Lippo   LCR     Lippo   LCR                               
                                                                              
    Assets ratio    0.18%   0.18%   N/A     N/A     N/A     N/A               
    Revenue ratio   0.82%   0.82%   N/A     N/A     N/A     N/A               
    Consideration ratio     1.83%   0.91%   N/A     N/A     N/A               
            N/A                                                               
                                                                              
    The values set out in this announcement as regards                        
    the Manufacturing Agreement represents the combined                       
    projected values of the transactions contemplated                         
    under such manufacturing agreement which have entered                     
    into by APM in its local currency of RM and by APM(S)                     
    in its local currency of S$.                                              
                                                                              
    Listing Rules implications of the Trading                                 
    Arrangements, the Distribution Agreement and the                          
    Manufacturing Agreement:                                                  
    The Trading Arrangements, the Distribution Agreement                      
    and the Manufacturing Agreement constituted                               
    connected transactions under Rule 14.23(1)(a) of the                      
    Previous Rules and under Rule 14A.14 of the Listing                       
    Rules after Completion by virtue of the                                   
    counterparties to the Trading Arrangements, the                           
    Distribution Agreement and the Manufacturing                              
    Agreement being associates of Mr. Wong Senior and Mr.                     
    Sean Wong (as applicable) under the Listing Rules as:                     
                                                                              
    (i)     Mr. Wong Senior is the controlling shareholder                    
    of the Malaysian Vendors which after Completion until                     
    the Changed Shareholding Date, held the remaining 30                      
    per cent. of the total issued and paid up capital of                      
    ACY and APFP not acquired by the Auric Group under                        
    the Malaysian Agreement. Shareholders of Lippo and                        
    LCR should however note that after the Changed                            
    Shareholding Date, the Malaysian Vendors'                                 
    shareholding interests in each of ACY and APFP has                        
    been reduced to 25 per cent. of their respective total                    
    issued share capital which resulted in ACY and APFP                       
    ceasing to be an associate of a connected person of                       
    Lippo and LCR (as such terms are defined in the Listing                   
    Rules) and therefore ceased to constitute a connected                     
    person;                                                                   
                                                                              
    (ii)    Chunex being an indirect non wholly-owned                         
    subsidiary of Lippo and LCR as Mr. Wong Senior                            
    continues to hold, after Completion and through SWIPL                     
    (a company of which Mr. Sean Wong, his son, is the                        
    trustee and a wholly-owned subsidiary of SFSB), the                       
    remaining 25 per cent. of the total issued and paid                       
    up capital of Chunex not acquired by the Auric Group                      
    under the Singaporean Agreement;                                          
                                                                              
    (iii)   Mr. Sean Wong was appointed a director of ACY,                    
    APFP and Chunex after Completion, and he in turn is                       
    the trustee of SWIPL which is interested in the                           
    remaining 25 per cent. of the total issued and paid                       
    up capital of Chunex;                                                     
                                                                              
    (iv)    ACY, APFP and Chunex therefore became indirect                    
    non wholly-owned subsidiaries of Lippo and LCR after                      
    Completion;