09:21     EZCOM HOLDINGS<00312> - Announcement & Resumption of Trading        

    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.                                                     
                                                                              
    EZCOM HOLDINGS LIMITED                                                    
    (the "Company")                                                           
    (Incorporated in Bermuda with limited liability)                          
    (Stock Code: 312)                                                         
                                                                              
    ANNOUNCEMENT                                                              
                                                                              
    The Company announces that it entered into a placing                      
    agreement with a placing agent on 22 January 2005 to                      
    place up to 122,000,000 new shares in the Company                         
    through the placing agent to independent professional,                    
    institutional and/or individual investors. However,                       
    after subsequent lengthy re-negotiations in respect                       
    of terms and conditions of the Agreement, the Company                     
    and the placing agent mutually agreed to terminate                        
    such Agreement on 1 February 2005 in view of the                          
    pricing of such new shares and the current market                         
    conditions.                                                               
                                                                              
    Trading in the Shares on the Stock Exchange was                           
    suspended with effect from 9:30 a.m. on Monday, 24                        
    January 2005 pending release information relating to                      
    the Placing. Application has been made by the Company                     
    for the resumption of trading in the Shares with                          
    effect from 9:30 a.m. on Wednesday, 2 February 2005.                      
                                                                              
    PLACING OF NEW SHARES                                                     
    The Company announces that it entered into a placing                      
    agreement on 22 January 2005 (the "Agreement") to                         
    place up to 122,000,000 new shares in the Company                         
    through a placing agent to independent professional,                      
    institutional and/or individual investors to raise                        
    a gross amount of up to approximately HK$24.4 million                     
    as general working capital for the Company (the                           
    "Placing"). However, after subsequent lengthy                             
    re-negotiations in respect of terms and conditions                        
    of the Agreement, the Company and the placing agent                       
    mutually agreed to terminate such Agreement on 1                          
    February 2005 in view of the pricing of such new shares                   
    and the current market conditions.                                        
                                                                              
    The directors of the Company consider that the                            
    termination of the Agreement will not have any                            
    material impact on the funding requirements of the                        
    Company and confirm that the Company has no present                       
    intention or plan to carry out other fund raising                         
    activities at this moment.                                                
                                                                              
    SUSPENSION AND RESUMPTION OF TRADING                                      
    Trading in the Shares on the Stock Exchange was                           
    suspended with effect from 9:30 a.m. on Monday, 24                        
    January 2005 pending release of information relating                      
    to the Placing. Application has been made by the                          
    Company for the resumption of trading in the Shares                       
    with effect from 9:30 a.m. on Wednesday, 2 February                       
    2005.                                                                     
                                                                              
    By order of the Board                                                     
    Ezcom Holdings Limited                                                    
    Cheung Kwok Yu                                                            
    Company Secretary                                                         
                                                                              
    Hong Kong, 1 February 2005                                                
                                                                              
    The board of directors of the Company as at the date                      
    of this announcement comprises Mr. Kok Kin Hok, Mr.                       
    Lam Bing Sum and Mr. Lian Song Qing, being executive                      
    directors, Mr. Li Jianhua, Mr. Wu Tak Lung and Mr.                        
    Chu Po Tien being independent non-executive                               
    directors.