09:47     MIDLAND REALTY<01200>-Announcement&Resumption of Trading(15)        

    "Midland Shareholder(s)"        holder(s) of the Midland                  
    Share(s)                                                                  
                                                                              
    "PRC"   the People's Republic of China                                    
                                                                              
    "SFC"   Securities and Futures Commission                                 
                                                                              
    "SFO"   Securities and Futures Ordinance (Chapter 571                     
    of the Laws of Hong Kong)                                                 
                                                                              
    "Somerley"      Somerley Limited, the financial adviser                   
    to EVI. It is a deemed licensed corporation under the                     
    SFO and engaged in types 1, 4, 6 and 9 regulated                          
    activities                                                                
                                                                              
    "Stock Exchange"        The Stock Exchange of Hong Kong                   
    Limited                                                                   
                                                                              
    "Subscriber"    Valuewit Assets Limited, a                                
    wholly-owned subsidiary of Midland and the subscriber                     
    of the new EVI Shares under the Subscription Agreement                    
                                                                              
    "Subscription"  the proposed subscription of                              
    4,300,000,000 new EVI Shares by the Subscriber                            
    pursuant to the terms of the Subscription Agreement                       
                                                                              
    "Subscription Agreement"        the conditional agreement                 
    dated 25 January 2005 entered into among, inter alia,                     
    the Subscriber and EVI with regard to the Subscription                    
                                                                              
    "Summerview"    Summerview Enterprises Limited, a                         
    warrantor of certain financial covenants (as                              
    described in this announcement) under the                                 
    Subscription Agreement and the entire issued share                        
    capital of which is registered in the name of and                         
    beneficially owned by Mr. Pong Wai San, Wilson (the                       
    founder, chairman and chief executive officer of EVI)                     
                                                                              
    "Takeovers Code"        the Hong Kong Code of Takeovers and               
    Mergers                                                                   
                                                                              
    "Whitewash Waiver"      waiver to be granted by the                       
    Executive of the general offer obligation triggered                       
    by Completion under Rule 26 of the Takeovers Code by                      
    the Subscriber and parties acting in concert with it                      
                                                                              
    "HK$"   Hong Kong dollars, the lawful currency of Hong                    
    Kong                                                                      
                                                                              
    "%"     per cent.                                                         
                                                                              
    By order of the Board   By order of the Board                             
    Midland Realty (Holdings) Limited       EVI Education                     
    Asia Limited                                                              
    Wong Kin Yip, Freddie   Pong Wai San, Wilson                              
    Chairman        Chairman                                                  
                                                                              
    Hong Kong, 26 January 2005                                                
                                                                              
    As at the date of this announcement, the Midland Board                    
    comprises eight directors, of which (i) five are                          
    executive Midland Directors, namely Mr. Wong Kin Yip,                     
    Freddie, Mr. Cheung Kam Shing, Ms Lam Fung Fong, Mr.                      
    Chan Kwan Hing and Mr. Kwok Ying Lung and (ii) three                      
    are independent non-executive Midland Directors,                          
    namely Mr. Koo Fook Sun, Louis, Mr. Sun Tak Chiu and                      
    Mr. Wang Ching Miao, Wilson.                                              
                                                                              
    As at the date of this announcement, the EVI Board                        
    comprises seven directors, of which (i) four are