09:21     MAN YUE INT'L<00894> - Announcement (4)                             

    LISTING RULES IMPLICATIONS                                                
    By entering into the Shareholders' Agreement, the                         
    Company has agreed to provide funding to Ever Reliance                    
    which constitutes a discloseable transaction of the                       
    Company under Rule 14.06(2) of the Listing Rules and                      
    a general disclosure obligation of the Company under                      
    Rule 13.16 of the Listing Rules.                                          
                                                                              
    GENERAL                                                                   
    A circular containing amongst other things further                        
    details of the Shareholders' Agreement will be                            
    despatched to the Shareholders as soon as practicable.                    
                                                                              
    DEFINITIONS                                                               
    In this announcement, unless the context requires                         
    otherwise, the following terms have the meanings as                       
    set out below:                                                            
                                                                              
    "Company"   Man Yue International Holdings Limited,                       
    a company incorporated in Bermuda and the shares of                       
    which are listed on the Main Board of the Stock                           
    Exchange                                                                  
                                                                              
    "Dongguan Changshi"   *                                                   
    (Dongguan Changan Changshi Development Corporation),                      
    a collectively-owned enterprise in the PRC.                               
                                                                              
    "Directors"   the directors of the Company                                
                                                                              
    "Ever Reliance"   Ever Reliance Industrial                                
    Investments Limited, an associate company of the                          
    Company and a company incorporated in Hong Kong which                     
    is 48% owned by Man Yue Technology, 49% owned by Golden                   
    Faith and 3% owned by Wintop.                                             
                                                                              
    "Golden Faith"   Golden Faith Mfg. Limited, a company                     
    incorporated in Hong Kong                                                 
                                                                              
    "Group"   the Company and its subsidiaries                                
                                                                              
    "Listing Rules"   Rules Governing the Listing of                          
    Securities on the Stock Exchange                                          
                                                                              
    "Man Yue Technology"   Man Yue Technology Limited, a                      
    company incorporated in the British Virgin Islands                        
    and a wholly owned subsidiary of the Company                              
                                                                              
    "PRC"   the People's Republic of China                                    
                                                                              
    "Project Company"   * (Dongguan                                           
    Ever Reliance Property Development Limited), a                            
    sino-foreign co-operative joint venture established                       
    in the PRC                                                                
                                                                              
    "Samxon Electronics"   Samxon Electronics (Dongguan)                      
    Company Limited, a company incorporated in the PRC                        
    and a wholly-owned subsidiary of the Company                              
                                                                              
    "Shareholders"   shareholders of the Company                              
                                                                              
    "Shareholders' Agreement"   The shareholders'                             
    agreement dated 24 January 2005, entered into among,                      
    inter alia, Man Yue Technology, Golden Faith and                          
    Wintop                                                                    
                                                                              
    "Stock Exchange"   The Stock Exchange of Hong Kong                        
    Limited                                                                   
                                                                              
    "HK$"   Hong Kong dollars, the lawful currency of Hong                    
    Kong                                                                      
                                                                              
    "RMB"   Renminbi, the lawful currency of the PRC                          
                                                                              
    "Wintop"   Wintop Intertrade Limited, a company                           
    incorporated in the British Virgin Islands                                
                                                                              
    On behalf of the Board                                                    
    Man Yue International Holdings Limited                                    
    Chan Ho Sing                                                              
    Chairman                                                                  
                                                                              
    Hong Kong, 31 January 2005                                                
                                                                              
    As at the date of this announcement, the board of                         
    directors of the Company comprises Mr. Chan Ho Sing                       
    and Mr. Ko Pak On as executive Directors, and Dr. Li                      
    Sau Hung, Eddy, Mr. Lo Kwok Kwei, David and Mr. Mar                       
    Selwyn as independent non-executive Directors.                            
                                                                              
    (* For the Chinese names, please refer to the press announcement today.)