09:43     CHINA CREDIT<00185> - Announcement (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.                                                     
                                                                              
                                                                              
    CHINA CREDIT HOLDINGS LIMITED                                             
    *                                                                         
    (Incorporated in Hong Kong with limited liability)                        
    (Stock Code: 185)                                                         
                                                                              
    RESULTS OF THE EXTRAORDINARY GENERAL MEETING                              
    HELD ON 28 JANUARY 2005                                                   
                                                                              
    At the EGM of the Company held today, all resolutions                     
    to approve, inter alia, the grant of Options were duly                    
    passed.                                                                   
                                                                              
    Reference is made to the shareholders' circular                           
    issued by the Company dated 13 January 2005 (the                          
    "Circular") relating to the Acquisition and                               
    Subscription pursuant to the Agreement, grant of the                      
    Options to two directors and the refreshment of the                       
    Scheme Mandate Limit. Unless otherwise defined herein,                    
    terms used in this announcement shall have the same                       
    meanings as defined in the Circular.                                      
                                                                              
    At the Extraordinary General Meeting (the "EGM") of                       
    the Company held today, the proposed ordinary                             
    resolutions regarding the grant of options in excess                      
    of 10% scheme mandate limit (Resolution no. 1) and                        
    the refreshment of the 10% limit on grant of options                      
    under the Share Option Scheme (Resolution no. 4) as                       
    set out in the notice of the EGM dated 13 January 2005                    
    and contained in the Circular were transacted and                         
    approved by the Shareholders by show of hands and the                     
    proposed ordinary resolutions regarding the grant of                      
    Options to Mr. Chan and Ms. Chan (Resolution no. 2                        
    and no. 3 respectively) were transacted and approved                      
    by the Independent Shareholders by poll voting.                           
                                                                              
    As explained in the Circular, Mr. Chan and Ms. Chan                       
    and their associates (as defined under the Listing                        
    Rules) (representing 778,785,525 Shares or                                
    approximately 47.90% of the existing issued share                         
    capital of the Company) were required to, and did,                        
    abstain from voting in respect of the Resolution no.                      
    2 and no. 3 regarding the grant of the Options.                           
    Furthermore, all connected Person of the Company                          
    (representing 792,050,120 Shares or approximately                         
    48.71% of the existing issued share capital of the                        
    Company) were required to, and did, abstain from                          
    voting in favour of the grant of the Options to each                      
    of Mr. Chan and Ms. Chan in the Resolutions no. 2 and                     
    no. 3. The Company confirms there were no parties that                    
    have stated their voting intentions in the circular,                      
    and as a result there were no parties who have or have                    
    not restated such intentions at the EGM.                                  
                                                                              
    As at the date of the EGM, the total number of Shares                     
    in issue was 1,625,968,681 Shares of which                                
    792,050,120 Shares were required to abstain from                          
    voting in favour of the grant of the Options to each                      
    of Mr. Chan and Ms. Chan in the Resolutions no. 2 and                     
    no. 3. Accordingly the total number of Shares                             
    entitling the Independent Shareholders to attend and                      
    vote in respect of the Resolution no. 2 and no. 3 are                     
    833,918,561 Shares, representing 51.29% of the total                      
    number of Shares in issue.