09:31     GOLIK HOLDINGS<01118> - Announcement (5)                            

    reasons and factors, the Directors believe that the                       
    terms of the Disposals are fair and reasonable and                        
    in the interest of the Shareholders as a whole.                           
                                                                              
    Use of proceeds and financial effect of the Disposals                     
    The aggregate net proceeds from the Disposals after                       
    deducting the related expenses and repayment of                           
    mortgage loan are estimated to be approximately                           
    HK$19.02 million (comprises of net proceeds of                            
    approximately HK$8.08 million from realization of                         
    Property Interest A, net proceeds of approximately                        
    HK$4.38 million from realization of Property Interest                     
    B and net proceeds of approximately HK$6.56 million                       
    from realization of Property Interest C. The Group                        
    intends to apply the aggregate net proceeds as its                        
    general working capital and there are no plans for                        
    any acquisition at the moment.                                            
                                                                              
    The Group will record an aggregate loss of                                
    approximately HK$250,000 on the Disposals (comprises                      
    of a loss of approximately HK$80,000 from realization                     
    of Property Interest A, a loss of approximately                           
    HK$120,000 from realization of Property Interest B                        
    and a loss of approximately HK$50,000 from                                
    realization of Property Interest C) from which is                         
    calculated with reference to the unaudited net book                       
    value of the respective properties as at 28 January                       
    2005.                                                                     
                                                                              
    General                                                                   
                                                                              
    To the best of the Directors' knowledge, information                      
    and belief, Purchaser A, Purchaser B and Purchaser                        
    C have no relationship and are independent of each                        
    other. To the best of the Directors' information,                         
    Purchaser A are engaged in the trading business while                     
    Purchaser B and Purchaser C are both engaged in                           
    investment holding business.                                              
                                                                              
    Each individual Disposals constitutes a discloseable                      
    transaction for the Company under Chapter 14 of the                       
    Listing Rules. A circular containing, amongst others,                     
    further details of the Disposals will be dispatched                       
    to the Shareholders as soon as practicable.                               
                                                                              
    Definitions                                                               
                                                                              
    In this announcement, the following expressions shall,                    
    unless the context requires otherwise, have the                           
    following meanings:                                                       
                                                                              
    "Board" The board of directors of the Company;                            
                                                                              
    "Company"       Golik Holdings Limited, an exempted                       
    company incorporated in Bermuda with limited                              
    liability, whose issued Shares are listed on the Main                     
    Board of the Stock Exchange;                                              
                                                                              
    "Disposals"     The disposal of the Property Interest A,                  
    Property Interest B and Property Interest C by the                        
    respective Vendors to the respective Purchasers                           
    pursuant to the respective agreements;                                    
                                                                              
    "Group" the Company with its subsidiaries and                             
    associated companies;                                                     
                                                                              
    "Hong Kong"     the Hong Kong Special Administrative                      
    Region of the People's Republic of China;                                 
                                                                              
    "Listing Rules" The Rules Governing the Listing of                        
    Securities on the Stock Exchange;                                         
                                                                              
    "Property Interest A"   comprising two single storey                      
    buildings with a total gross floor area of