09:26     MAGICIAN IND<00526>-Announcement & Resumption of Trading(3)         

    As more than 50% of the votes were cast in favour of                      
    the resolution, the resolution was duly passed as an                      
    ordinary resolution.                                                      
                                                                              
    (f)   Mr. Leung Ka Cheuk 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.                                                      
                                                                              
    (g)   Mr. Hui Yat On, Kelvin 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.                                                      
                                                                              
    (h)   Ms. Ho Cheuk Lai, Fannie 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.                                                      
                                                                              
    (i)   Mr. Lee Lok Man 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.                                                      
                                                                              
    Recent Development                                                        
                                                                              
    A board meeting of the Company will be held on 4                          
    February 2005 to discuss potential restructuring of                       
    the Board.                                                                
                                                                              
    Resumption of Trading                                                     
                                                                              
    Since the removal of Mr. Kong Yick Ming as Chairman                       
    and the re-appointment of him as Chairman within a                        
    short period of time and his removal was considered                       
    price sensitive by the Board, as such the Board                           
    believes that the re-appointment of Mr. Kong is also                      
    price sensitive. At the request of the Company,                           
    trading in the securities of the Company has been                         
    suspended since 9:30 a.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 9:30 a.m.                      
    on 2 February 2005.                                                       
                                                                              
                                                                              
                                                                              
    On behalf of the Board                                                    
    Kong Yick Ming                                                            
    Chairman                                                                  
                                                                              
    Hong Kong, 1 February 2005                                                
                                                                              
    As at the date to this announcement, the Board of the                     
    Company comprises Mr. Kong Yick Ming (Chairman and                        
    Non-Executive Director), Mr. Will Hoon Wee Teng                           
    (Deputy Chairman and Non-Executive Director), Mr.                         
    Patrick Zee being an Executive Director, Mr. Kenneth                      
    Chan Chun Hing, Mr. Wong Kwong Chi, Mr. Ku Ling Yu,                       
    John, Miss Katrina Kok Zhi Yi, 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 being Non-Executive Directors, Mr. Rawdon Tsui                    
    Sing Kee, Mr. Cheung Sun Lung, Mr. Andrew Ma Chiu                         
    Cheung, Mr. Lee Kwan Hung and Mr. U Keng Tin being                        
    Independent Non-Executive Directors.