09:16     LINEFAN TECH<08166> - Announcement                                  

                                                                              
    The Stock Exchange of Hong Kong Limited takes no responsibility for the   
    contents of this announcement, makes no representation as to its          
    accuracy or completeness and expressly disclaims any liability            
    whatsoever for any loss howsoever arising from or in reliance upon the    
    whole or any part of the contents of this announcement.                   
                                                                              
    This announcement, for which the directors of Linefan Technology          
    Holdings Limited (the "Directors") collectively and individually accept   
    full responsibility, includes particulars given in compliance with the    
    Rules Governing the Listing of Securities on the Growth Enterprise        
    Market of The Stock Exchange of Hong Kong Limited for the purpose of      
    giving information with regard to Linefan Technology Holdings Limited.    
    The Directors, having made all reasonable enquiries, confirm that, to     
    the best of their knowledge and belief: (1) the information contained     
    in this announcement is accurate and complete in all material respects    
    and not misleading; (2) there are no other matters the omission of        
    which would make any statement in this announcement misleading; and (3)   
    all opinions expressed in this announcement have been arrived at after    
    due and careful consideration and are founded on bases and assumptions    
    that are fair and reasonable.                                             
                                                                              
    LINEFAN TECHNOLOGY HOLDINGS LIMITED                                       
    (Incorporated in the Cayman Islands with limited liability)               
    (Stock Code: 8166)                                                        
                                                                              
    CHANGE OF AUDITORS                                                        
                                                                              
    The board of directors ("the Board") of Linefan Technology Holdings       
    Limited ("the Company") announces that Deloitte Touche Tohmatsu           
    resigned as auditors of the Company and its subsidiaries with effect      
    from 31 January 2005 since the Company and Deloitte Touche Tohmatsu       
    could not arrive at a consensus on the audit fees for the financial       
    year ending 31 December 2004. Deloitte Touche Tohmatsu have confirmed     
    in their notice of resignation dated 31 January 2005 that there no        
    circumstances connected with their resignation which they consider        
    should be brought to the attention of the shareholders or creditors of    
    the Company. The Board also confirmed that there is no other issue that   
    should be brought to the attention of shareholders and creditors of the   
    Company. The Board proposed to appoint Horwath Hong Kong CPA Limited as   
    its auditors to fill the vacancy left by Deloitte Touche Tohmatsu. The    
    Board confirmed that Deloitte Touche Tohmatsu has not yet performed any   
    audit work and procedures for the year ended 31 December 2004.            
                                                                              
    In accordance with the Articles of Association of the Company, the        
    Board shall as soon as practical convene an extraordinary general         
    meeting to fill the vacancy following the resignation of Deloitte         
    Touche Tohmatsu as the Company's auditors. Consequently, an               
    extraordinary general meeting will be held at Room 1901, Henan            
    Building, 90 Jaffe Road, Wanchai, Hong Kong on 28 February 2005 at        
    10:00 a.m. to approve the appointment of Horwath Hong Kong CPA Limited    
    to fill such vacancy.                                                     
                                                                              
    By Order of the Board                                                     
    Wang Yong                                                                 
    Chairman                                                                  
                                                                              
    As at the date of this announcement, the Board comprises of:              
                                                                              
    Mr. Wang Yong (Chairman & Executive director)                             
    Ms. Ma Gui Fang (Executive director)                                      
    Mr. Zhu Guang Bo (Executive director)                                     
    Mr. Chan, Peter Yat-Tung (Independent non-executive director)             
    Mr. Feng Jue Min (Independent non-executive director)                     
    Mr. Zhang Gong (Independent non-executive director)                       
                                                                              
    Hong Kong, 3 February 2005                                                
                                                                              
    This announcement will remain on the GEM website at www.hkgem.com on      
    the "Latest Company Announcements" page for at least 7 days from the      
    date of its posting.