09:26     MAGICIAN IND<00526>-Announcement & Resumption of Trading(2)         

    Voting Results of the Special General Meeting Held                        
    on 1 February 2005                                                        
                                                                              
    The Board is pleased to announce the results of the                       
    voting taken on a poll at the Special General Meeting                     
    (the "SGM") of the Company held on 1 February 2005.                       
                                                                              
    (1)   The total number of shares entitling the holders                    
    thereof to attend and vote for or against all the                         
    resolutions at the SGM: 868,733,440.                                      
                                                                              
    (2)   The total number of shares entitling the holders                    
    thereof to attend and vote only against all the                           
    resolutions at the SGM: Nil.                                              
                                                                              
    (3)   Secretaries Limited, the Company's Share                            
    Registrar in Hong Kong, acted as scrutineer for the                       
    vote-taking at the SGM.                                                   
                                                                              
    (4)   The number of shares represented by votes for                       
    and against the respective resolutions at the SGM was                     
    as follows:                                                               
                                                                              
    Resolutions                                                               
    Number of votes (%)                                                       
    For   Against                                                             
                                                                              
    (a)   (i)   the maximum number of directors of the                        
    Company be and is hereby set at a number equals two                       
    times the maximum number of directors previously set                      
    by the Company, plus one; or                                              
    516,417,124   213,309,577                                                 
    (70.77%)   (29.23%)                                                       
                                                                              
    As more than 50% of the votes were cast in favour of                      
    the resolution, the resolution was duly passed as an                      
    ordinary resolution.                                                      
                                                                              
    (ii)   (ii) if it has previously been decided in the                      
    bye-laws of the Company or otherwise that there shall                     
    be no maximum number of directors of the Company or                       
    if no such maximum number of directors of the Company                     
    has been previously set, the maximum number of                            
    directors of the Company be and is hereby set at a                        
    number equals to two times the number of directors                        
    of the Company in office immediate before the                             
    consideration of this resolution, plus one.                               
    Nil   Nil                                                                 
                                                                              
    As the Company had previously determined and set the                      
    maximum number of directors at 15 persons, the                            
    resolution became irrelevant and had not been voted                       
    upon.                                                                     
                                                                              
    (b)   Mr. Lee Kwan Hung, Eddie be appointed as an                         
    independent non-executive director of the Company                         
    with immediate effect.                                                    
    516,417,124   213,309,577                                                 
    (70.77%)   (29.23%)                                                       
                                                                              
    As more than 50% of the votes were cast in favour of                      
    the resolution, the resolution was duly passed as an                      
    ordinary resolution.                                                      
                                                                              
    (c)   Mr. U Keng Tin be appointed as an independent                       
    non-executive director of the Company with immediate                      
    effect.                                                                   
    516,417,124   213,309,577                                                 
    (70.77%)   (29.23%)                                                       
                                                                              
    As more than 50% of the votes were cast in favour of                      
    the resolution, the resolution was duly passed as an                      
    ordinary resolution.                                                      
                                                                              
    (d)   Mr. Edwin Chi Kit Lau be appointed as a                             
    non-executive director of the Company with immediate                      
    effect.                                                                   
    516,417,124   213,309,577                                                 
    (70.77%)   (29.23%)                                                       
                                                                              
    As more than 50% of the votes were cast in favour of                      
    the resolution, the resolution was duly passed as an                      
    ordinary resolution.                                                      
                                                                              
    (e)   Mr. Yau Sui Ki, Christie be appointed as a                          
    non-executive director of the Company with immediate                      
    effect.                                                                   
    516,417,124   213,309,577                                                 
    (70.77%)   (29.23%)