09:25     MAGICIAN IND<00526>-Announcement & Resumption of Trading(1)         

    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.                                                     
                                                                              
                                                                              
    MAGICIAN INDUSTRIES (HOLDINGS) LIMITED                                    
    (incorporated in Bermuda with limited liability)                          
    (Stock Code: 526)                                                         
                                                                              
    REPLACEMENT OF CHAIRMAN OF THE COMPANY                                    
    APPOINTMENT OF DEPUTY CHAIRMAN OF THE COMPANY                             
    FORMATION OF OFFICE OF CHAIRMAN                                           
    AND                                                                       
    VOTING RESULTS                                                            
    OF THE SPECIAL GENERAL MEETING HELD ON 1 FEBRUARY 2005                    
    AND                                                                       
    RESUMPTION OF TRADING                                                     
                                                                              
    Replacement of Chairman of the Company, Appointment                       
    of Deputy Chairman of the Company, Formation of Office                    
    of Chairman                                                               
                                                                              
    The Board is pleased to announce that, on 31 January                      
    2005, the Board had amongst other things, (a)                             
    appointed Mr. Kong Yick Ming as the Chairman of the                       
    Company, (b) redesignated Mr. Will Hoon Wee Teng as                       
    the Deputy Chairman of the Company, (c) formed an                         
    Office of Chairman which comprises of the Chairman                        
    of the Company, the Managing Director and the Chief                       
    Financial Officer.                                                        
                                                                              
    Voting Results of the Special General Meeting Held                        
    on 1 February 2005                                                        
                                                                              
    In the SGM, the maximum number of directors of the                        
    Company was set at 31. Mr. Lee Kwan Hung and Mr. U                        
    Keng Tin were appointed as independent non-executive                      
    directors. Mr. Edwin Chi Kit Lau, Mr. Yau Sui Ki                          
    Christie, Mr. Leung Ka Cheuk, Mr. Hui Yat On, Kelvin,                     
    Ms. Ho Cheuk Lai, Fannie and Mr. Lee Lok Man were                         
    appointed as non-executive directors.                                     
                                                                              
    Resumption of trading                                                     
                                                                              
    At the request of the Company, trading in the                             
    securities of the Company has been suspended since                        
    9:30a.m. on 1 February 2005 pending the publication                       
    of this announcement and application has been made                        
    for the trading of the securities of the Company to                       
    be resumed with effect from 9:30a.m. on 2 February                        
    2005.                                                                     
                                                                              
    The board of directors (the "Board") of Magician                          
    Industries (Holdings) Limited (the "Company",                             
    together with its subsidiaries, the "Group") is                           
    pleased to announce the following:                                        
                                                                              
    Replacement of Chairman of the Company, Appointment                       
    of Deputy Chairman of the Company, Formation of Office                    
    of Chairman                                                               
                                                                              
    Reference is made to the announcement dated 17 January                    
    2005. Mr. Kong Yick Ming has undertaken to the Board                      
    that he would assist the Group to improve its                             
    management and business. Based on the undertaking made                    
    by Mr. Kong, the Board re-appointed Mr. Kong Yick Ming                    
    as the Chairman of the Company and re-designated Mr.                      
    Will Hoon Wee Teng from the Chairman of the Company                       
    to the Deputy Chairman of the Company. As a step to                       
    improve the internal control and the quality of the                       
    management, the Board approved, in the meeting of 31                      
    January 2005, to form an Office of Chairman which                         
    comprises of the Chairman of the Company, the Managing                    
    Director and the Chief Financial Officer. The office                      
    of Chairman will be primarily responsible for                             
    corporate policy making and strategic planning of the                     
    Company. The initial members of the Office of Chairman                    
    shall be Mr. Kong Yick Ming (Chairman of the Company),                    
    Mr. Patrick Zee (General Manager of the Group) and                        
    Mr. Kwong Alvin Lin-pik (Chief Financial Officer).