09:22     VANTAGE INT'L<00015> - Announcement                                 

    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.                                                     
                                                                              
    VANTAGE INTERNATIONAL (HOLDINGS) LIMITED                                  
    (incorporated in Bermuda with limited liability)                          
    (Stock code: 15)                                                          
                                                                              
    VERY SUBSTANTIAL ACQUISITION AND                                          
    CONNECTED TRANSACTION RELATING TO THE PROPOSED                            
    ACQUISITION OF GOOD TRADER LIMITED                                        
    DELAY IN DESPATCH OF CIRCULAR                                             
                                                                              
    The board of the Company wishes to announce that the                      
    despatch of the Circular to the shareholders of the                       
    Company will be postponed to no later than 23 February                    
    2005. The Circular will contain information on, inter                     
    alia, the proposed acquisition of Good Trader that                        
    constitutes a very substantial acquisition and                            
    connected transaction.                                                    
                                                                              
    The Company has applied to the Stock Exchange for a                       
    waiver from strict compliance with Rule 14.38 of the                      
    Listing Rules and an extension of the time for despatch                   
    of the Circular up to and until 23 February 2005.                         
                                                                              
    Reference is made to the Company's announcement dated                     
    11 January 2005 (the "Announcement") in respect of the                    
    proposed acquisition of Good Trader from Mr Yau Kwok                      
    Fai, the deputy chairman of the Board and chief                           
    executive officer of the Company. Terms defined in the                    
    Announcement shall have the same meaning when used                        
    herein.                                                                   
                                                                              
    Pursuant to Rule 14.38 of the Listing Rules, a circular                   
    in respect of the proposed acquisition of Good Trader                     
    ("Circular") is required to be published and                              
    despatched to the shareholders of the Company within                      
    21 days after publication of the Announcement, being                      
    no later than 2 February 2005. As more time is required                   
    for the preparation of the valuation report on the                        
    Group's interests in properties, which include a                          
    property located in London, the United Kingdom, and                       
    the Group's financial information for incorporation                       
    in the Circular, the Company has applied to the Stock                     
    Exchange for a waiver from strict compliance with Rule                    
    14.38 of the Listing Rules and an extension of the time                   
    for despatch of the Circular up to and until 23 February                  
    2005.                                                                     
                                                                              
    As at the date of this announcement, the Executive                        
    Directors comprise Mr Ngai Chun Hung, Mr Yau Kwok Fai,                    
    Mr Shek Yu Ming Joseph and Mr Li Chi Pong, and the                        
    Independent Non-executive Directors comprise                              
    Professor Ko Jan Ming, Hon. Ip Kwok Him, GBS, JP and                      
    Mr Fung Pui-Cheung, Eugene.                                               
                                                                              
    By order of the Board                                                     
    Vantage International (Holdings) Limited                                  
    Pang Fung Ming                                                            
    Company Secretary                                                         
                                                                              
    Hong Kong, 31 January 2005