09:15     FIRST DRAGONCOM<00875>-Announcement&Resumption of Trading(3)        

    INFORMATION ON THE COMPANY                                                
                                                                              
    The Company is a company incorporated in Bermuda with limited             
    liability. It is an investment holding company, while its                 
    subsidiaries are engaged in the business of nurturing, selling and        
    trading of tree seedlings and seeds and manufacturing and sale of         
    shrimp feeds.                                                             
                                                                              
    The Company has not conducted any other equity fund raising               
    activities in the past twelve-month period immediately before the         
    date of this announcement.                                                
                                                                              
    REASONS FOR THE PLACING                                                   
                                                                              
    The Placing will broaden the capital base and shareholder base of         
    the Company. The directors of the Company are of the opinion that         
    the terms (including the placing price) of the Placing are fair and       
    reasonable and are in the best interest of the Company and its            
    shareholders.                                                             
                                                                              
    Use of Proceeds                                                           
                                                                              
    The net proceeds receivable by the Company under the Placing are          
    estimated to be approximately HK$13,500,000. Accordingly, the net         
    placing price per Share is HK$0.03375. It is presently intended that      
    such net proceeds will be used as general working capital of the          
    Company. As at the date of this announcement, the Company has not         
    identified any projects for acquisition.                                  
                                                                              
    APPLICATION FOR LISTING                                                   
                                                                              
    The Company will make an application to the Stock Exchange for the        
    grant of the listing of, and permission to deal in, the Placing           
    Shares.                                                                   
                                                                              
    RESUMPTION OF TRADING                                                     
                                                                              
    Trading in the Shares has been suspended since 11:07 a.m. on 3rd          
    February 2005 at the request of the Company. The Company has              
    submitted an application to the Stock Exchange for the resumption         
    of trading in the Shares on the Stock Exchange at 9:30 a.m. on 4th        
    February 2005.                                                            
                                                                              
    DEFINITIONS                                                               
                                                                              
    ``Board''   the board of directors, including independent                 
    non-executive directors, of the Company                                   
                                                                              
    ``Business Day''   any day (excluding a Saturday) on which banks          
    generally are open for business in Hong Kong                              
                                                                              
    ``Company''   First Dragoncom Agro-Strategy Holdings Limited, a           
    company incorporated in Bermuda with limited liability and listed         
    on the Main Board of the Stock Exchange                                   
                                                                              
    ``Listing Rules''   the Rules Governing the Listing of Securities         
    on the Stock Exchange                                                     
                                                                              
    ``Placee(s)''   individual, institutional or other investors              
    procured by the Placing Agent to subscribe for any of the Placing         
    Shares pursuant to the Placing Agent's obligations under the Placing      
    Agreement                                                                 
                                                                              
    ``Placing''   the placing of the Placing Shares to Placees pursuant       
    to the Placing Agreement                                                  
                                                                              
    ``Placing Agent''   Concord Capital Securities Ltd., a dealer             
    registered under the Securities Ordinance (Chapter 333 of the Laws        
    of Hong Kong)                                                             
                                                                              
    ``Placing Agreement''   a placing agreement dated 3rd February 2005       
    between the Company and the Placing Agent                                 
                                                                              
    ``Placing Shares''   a total of 400,000,000 Shares                        
                                                                              
    ``Shares''   shares of HK$0.01 each in the capital of the Company         
                                                                              
    ``Stock Exchange''   The Stock Exchange of Hong Kong Limited              
                                                                              
    By order of the Board                                                     
    FIRST DRAGONCOM AGRO-STRATEGY HOLDINGS LTD.                               
    Hon Fong Ming, Perry                                                      
    Chairman                                                                  
                                                                              
    Hong Kong, 3rd February 2005