09:16     KARL THOMSON<00007> - 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.               
                                                                              
                                                                              
    KARL THOMSON HOLDINGS LIMITED                                             
    (Incorporated in Bermuda with limited liability)                          
    (Stock Code: 7)                                                           
                                                                              
    FURTHER DELAY IN DESPATCH OF CIRCULAR                                     
                                                                              
                                                                              
    As further additional time is required to finalize the contents           
    in the preparation of the pro forma financial information on the          
    enlarged Group, the Company has applied to the Stock Exchange for a       
    further extension of the date for dispatch of the Circular to on or       
    before 15 February 2005.                                                  
                                                                              
    Shareholders should exercise caution when dealing in the Shares.          
                                                                              
    Reference is made to the announcements of the Company dated 13            
    December 2004, 4 January 2005 and 18 January 2005 (the                    
    `Announcements') in relation to the Acquisition which constitutes a       
    very substantial acquisition and a connected transaction of the           
    Company under the Listing Rules. Unless the context otherwise             
    requires, specific terms used herein shall have the same meanings as      
    defined in the Announcements.                                             
                                                                              
    Under Rules 14.38 and 14A.49 of the Listing Rules, the Company is         
    required to dispatch the Circular in relation to the Acquisition          
    within 21 days after the publication of the Company's announcement        
    dated 13 December 2004, being on or before 4 January 2005. On 4           
    January 2005, the Company had applied to the Stock Exchange for an        
    extension of time for the dispatch of the Circular and on 18 January      
    2005, the Company had further applied to the Stock Exchange for an        
    extension of time for the dispatch of the Circular on or before 1         
    February 2005. During the extension period, the Company had prepared      
    and collated the financial information of ATNT and the Group, the         
    information contained in the letter from the Board and the pro forma      
    financial information on the enlarged Group.                              
                                                                              
    As at the date of this announcement, further additional time is           
    required to finalize the contents in the preparation of the pro forma     
    financial information on the enlarged Group. Therefore, the Company       
    has applied to the Stock Exchange for a further extension of time to      
    dispatch the Circular to a date not later than 15 February 2005.          
                                                                              
    Shareholders should exercise caution when dealing in the Shares.          
                                                                              
    As at the date of this announcement, the board of directors of the        
    Company comprises Messrs. Lam Kwok Hing and Nam Kwok Lun as executive     
    Directors; and Messrs. Chen Wei-Ming Eric, Ng Chi Kin David and Kwan      
    Wang Wai Alan as independent non-executive Directors.                     
                                                                              
                                                                              
                                                                              
    By Order of the board of                                                  
    Karl Thomson Holdings Limited                                             
    Lam Kwok Hing                                                             
    Chairman                                                                  
                                                                              
    Hong Kong, 1 February 2005