10:05     WAI YUEN TONG<00897> & WANG ON GROUP<01222>-JA & Resume(7)          

    less than a whole multiple of HK$100,000.                                 
                                                                              
    Transferability                                                           
                                                                              
    Subject to all applicable laws and regulations, the Convertible           
    Notes are freely transferable and may be transferred in whole             
    or in part representing a principal amount of HK$100,000 or an            
    integral multiple thereof.                                                
                                                                              
    Listing                                                                   
                                                                              
    No application will be made for the listing of the Convertible            
    Notes on the Stock Exchange or any other stock exchange.                  
    Application will be made to the Stock Exchange for the listing            
    of and permission to deal in the Conversion Shares falling to             
    be issued upon exercise of the conversion rights attaching to             
    the Convertible Notes. Such Conversion Shares will rank pari              
    passu in all respects with the WYT Shares in issue on the date            
    on which notice of conversion is served by the holders of the             
    Convertible Notes upon exercise of the conversion rights.                 
                                                                              
    Voting right                                                              
                                                                              
    The Convertible Notes do not confer on their holders any voting           
    rights at any general meeting of WYT.                                     
                                                                              
    The maximum number of Conversion Shares which may be issued upon          
    full conversion of the Convertible Notes at the initial                   
    conversion price of HK$0.08 per Conversion Share (subject to              
    adjustment provisions which will arise a result of certain                
    changes in the share capital of WYT including sub-division or             
    consolidation of WYT Shares, capitalization of profits or                 
    reserves, capital distributions in cash or specie or subsequent           
    issue of securities of WYT) will be 375,000,000 WYT Shares,               
    representing (i) approximately 13.57% of the issued share                 
    capital of WYT as at the date of this announcement; (ii)                  
    approximately 11.31% of the enlarged issued share capital of              
    WYT immediately upon completion of the Top-Up Placing, which              
    is expected to be on or before 3 February 2005; and (iii)                 
    approximately 10.16% of the issued share capital of WYT as                
    enlarged by the issue of the Conversion Shares (assuming full             
    exercise of the Convertible Notes and no issue or repurchase              
    of other WYT Shares in the interim).                                      
                                                                              
    The initial conversion price of HK$0.08 per Conversion Share              
    under the Convertible Notes was negotiated on an arm's length             
    basis and (i) equals to the closing price of HK$0.08 per WYT              
    Share on the Last Trading Date; (ii) represents a premium of              
    approximately 1.78% to the average closing price of HK$0.0786             
    per WYT Share for the last five trading days up to and including          
    the Last Trading Date; and (iii) represents a premium of                  
    approximately 2.96% to the average closing price of HK$0.0777             
    per WYT Share for the last ten trading days up to and including           
    the Last Trading Date.                                                    
                                                                              
    SHAREHOLDING STRUCTURE OF WYT                                             
                                                                              
    The following table sets out the change in the shareholding               
    structure of WYT after completion of the Top-up Placing and               
    assuming full conversion of the Convertible Notes at the initial          
    conversion price of HK$0.08 per Conversion Share:                         
                                                                              
                                                    Assuming full             
                                                    conversion of the         
                                                    Convertible Notes         
                                                    at the initial            
                    As at the               Upon completion         conversion
    price                                                                     
    Before the              date of this             of the         of HK$0.08
    per                                                                       
    Top-Up Placing  %       announcement    %       Top-Up Placing  %         
            Conversion Share        %