09:00     GDC<08271> - Unusual price & volume movements                       

                                                                              
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    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.                                
                                                                              
    GLOBAL DIGITAL CREATIONS HOLDINGS LIMITED                                 
    (Incorporated in Bermuda with limited liability)                          
    (Stock Code: 8271)                                                        
                                                                              
    ANNOUNCEMENT                                                              
    UNUSUAL SHARE PRICE AND TRADING VOLUME MOVEMENT                           
                                                                              
    The Board had noted the increase in the price and trading                 
    volume of the shares of the Company on 31 January 2005, and               
    wishes to state that it is not aware of any reasons for such              
    increase in the price and trading volume of the shares of the             
    Company, except for the passing of the ordinary resolution                
    of Shougang Concord in relation to a major transaction of                 
    Shougang Concord which involves, among others, a voluntary                
    conditional share exchange offer by DBS Asia Capital Limited              
    on behalf of a wholly owned subsidiary of Shougang Concord                
    to acquire all the issued shares of the Company.                          
                                                                              
    By Order of the Board                                                     
    Global Digital Creations Holdings Limited                                 
    Amelia Mak Lai Yu                                                         
    Company Secretary                                                         
                                                                              
    Hong Kong, 31 January 2005                                                
                                                                              
    This announcement, for which the Directors collectively and               
    individually accept full responsibility, includes                         
    particulars given in compliance with the GEM Listing Rules                
    for the purpose of giving information with regard to the                  
    Company. The Directors, having made all reasonable enquiries,             
    confirm that, to the best of their knowledge and belief, the              
    information contained in this announcement is accurate and                
    complete in all material respects and is not misleading; there            
    are no other matters the omission of which would make any                 
    statement in this announcement misleading; and all opinions               
    expressed in this announcement have been arrived at after due             
    and careful consideration and are founded on bases and                    
    assumptions that are fair and reasonable.                                 
                                                                              
    The above announcement is a summary only. For the full version            
    of this announcement, please refer to the "Latest Company                 
    Announcements" page on the GEM website of                                 
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